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Motivation (benefits of a motivated workforce (staff retention (lower…
Motivation
benefits of a motivated workforce
higher productivity
increased quantity of output
staff retention
lower recruitment, selection, and training costs
longer established teams
greater knowledge
improved quality of work
less disputes in the workplace
higher profits
methods to motivate staff
salary
monthly payment of money to an employee, stated annually
wages
an amount of money paid to workers per hour
commission
an amount paid as a percentage of the value of a product sold
profit sharing
a percentage of annual profit given to employees in addition to their standard pay
non financial methods
styles of management
how an employee is treated by management can affect whether or not they feel value and respected at work
this can include communication, recognition, and involvement
training
shows that a business is willing to invest in an individual and therefore gives a sense of involvement and being valued
can motivate employees who are seeking to improve themselves and potentially achieve a promotion
greater responsibility
involvement in decision making or a wider range of tasks can help an employee feel satisfied and challenged in the workplace
fringe benefits
additional benefits such as healthcare, social events, staff discounts, uniform
motivation is the reason why a person does something
It's important for a business to motivate its staff so they will meet targets that will benefit the business
motivated staff = greater commitment from the workforce