3.5 Motivation And Retention Flashcards
(9 cards)
Why is it important to motivate workers?
Improved worker performance, productivity.
What is pay?
A set amount of money paid hourly or annually
What is a bonus?
An additional sum of money which is a one off payment for meeting individual targets
What is profit sharing?
A % of annual profit which is given alongside their standard pay
Why is praise a good method of Non- financial motivation?
Employees feel valued and respected
Why are award schemes a good method of Non- financial motivation?
Given awards for achievements
Why is a good working environment a good method of Non- financial motivation?
It makes employees feel safe and cared for
What is employee retention and two benefits of it?
Employees staying with the business
-already familiar with the business (less training needed)
-saves on recruitment costs and time
Why are fringe benefits a good method of Non- financial motivation?
Additional benefits such as health care, social events, staff discounts and uniform
