Business-Motivation Revision Cards

Description

GCSE Business Studies (Motivation) Flashcards on Business-Motivation Revision Cards, created by Thea Friend on 03/04/2019.
Thea  Friend
Flashcards by Thea Friend, updated more than 1 year ago
Thea  Friend
Created by Thea Friend over 5 years ago
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Resource summary

Question Answer
List the importance of employee motivation? -high retention -less staff taking time of work -better delivery of service -easier to recruit new workers -high employee performance -low staff turnover -less need for supervision
List the financial methods of motivation? -profit sharing -fringe benefits -bonus -pay/salaries/wages
List the non-financial methods of motivation? -praise -a good quality working environment -award schemes
What is the definition of retention? -workers staying with a firm for a long period of time
What is the definition of a bonus? -is an additional payment to workers for achieving targets
What is the definition of profit sharing? -when workers receive some of the profits made by the business
What is the definition of fringe benefits? -an additional benefit you receive on top of pay for example a company car or a gym membership
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