Financial/Non-financial motivators

Description

A level Business, Unit 1 Flashcards on Financial/Non-financial motivators, created by Rhian Morgan on 10/07/2018.
Rhian Morgan
Flashcards by Rhian Morgan, updated more than 1 year ago
Rhian Morgan
Created by Rhian Morgan over 6 years ago
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Resource summary

Question Answer
Bonus A payment in addition to the basic wage for reaching targets or in recognition for service
Commission A percentage payment on a sale made to the salesperson
Consulation Listening to the views of employees before making key decisions that affect them
Delegation The passing of authority further down the managerial hierarchy
Empowerment Giving official authority to employees to make decisions and control their own work activities
Job enlargement Giving an employee more work to do of a similar nature; 'horizontally' extending their work role
Job enrichment Giving employees greater responsibility and recognition by 'vertically' extending their role
Job rotation The periodic changing of jobs/tasks
Performance related pay (PRP) A payment system designed for non-manual workers where pay increases are given if performance targets are met
Piece rates
Profit sharing A payment system where employees are paid an agreed rate for every item produced
Teamworking Organising people into working groups that have a common aim
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