Business-Motivation Revision Cards

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

Resource summary

	Created by Thea Friend over 5 years ago