2.1 Motivating Workers
Motivation
Desire to achieve a result
The more desire that someone have the harder they will work to achieve that
Importance of motivated workforce
Increase the productivity
Improve the quality
Loyality in the business reduces labour turnover
Commitment to the busines reduces absenteeism
Financial rewards
Piece rates
System that pays workers for each product they produce
It is mainly used in manufacturing industries
"the harder someone works the more they get paid"
Time rates
Workers are paid for the amount of time they work
Mainly used in the retail sector
This system encourage employees to produce a higher quality of work than the quantity produced
Salary
Workers are paid a sum of money for a year´s work
There is a flexibility of when and how long a employee works during a day, week or month.
Salaries don´t provide incentive to work hard
Incentive schemes
Business use various ways to improve motivation, to encourage people to work harder
Bonuses
PRP
adicional financial reward to a worker
is a bonus scheme that provides a financial reward
Profit share
Share ownership
Encourage workers to work as a team to benefit the organization
Mainly use for executives
The company provides share as a rewward (similar to a profit share)
Non-Financial rewards
Called as fringe benefits
discounts
a car company car
private medical insurance