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Business Studies Chapter 6: Motivation employees (Benefits of a well…
Business Studies Chapter 6: Motivation employees
Why people work
motivation
money
security
job satisfaction
esteem needs (self-importance)
social needs (affiliation)
Benefits of a well-motivated workforce
high output per worker
willingness to accept change
two-way communication with management
low labour turnover
low rates of absenteeism
low rates of strike action
Human needs
Maslow
physiological needs
social needs
self-actualisation
esteem needs
safety/security needs
Motivation theories
F.W. Taylor
Herzberg
humans' two basic needs
Methods of motivation
wages
salaries
bonuses
commission
profit sharing
Fringe benefits
perks of a job
examples
company vehicle
discounts on the business's products
health care paid for
children's education fees paid
generous expense accounts
free trips abroad/holidays
Motivating factors - non-financial methods
most focus on the increasing level of job satisfaction
enjoyment from doing a job
how business can increase job satisfaction of employees
job rotation
job enrichment
autonomous work groups or teamworking
training
opportunities for promotion