Have an account?
What is a fringe benefit?
Benefits related to the job description
Benefits on top of a salary or wage
It costs a lot of money and is not common
the art of persuading people to do something
the drive to do something
leading people to do better
An advantage of profit sharing
Motivates workers and improves efficiency
It only has to be given at the end of the year
Managers are happy to keep employees motivated
There is not an advantage
Advantage to few employees leaving next year?
Employees do not have to say goodbye
there is no advantage - new employees means new ideas
They might steal information
saves time and money (Recruitment)
Non-financial methods include
Praise and recognition
salary and commission
Job rotation, Job Enlargement
Company car and cell phone
What financial methods motivates employees to hit targets?
Performance related pay
Employees having company car
This motivational theorist is considered scientific and believes money is the only motivator
What is the correct definition for wage?
An annual amount usually divided into 12 monthly payments
Pay distributed weekly or daily, calculated using no. of hours worked
A lump sum given on the completion of a specific task
A percentage of sales made over a given time period
What is the correct definition for 'Commission'?
Monthly pay, same amount despite the number of hours worked
Staff are paid for the number of items produced
Staff are paid a percentage value of items sold
A payment for producing quality goods
How can commission incentivize workers?
They will be jealous of colleagues
They will get a share of the profits
The more they sell the more they earn
They will pay less tax
Private health insurance is what type of incentive?
Performance related pay
Involves looking at jobs and adding tasks that require more skill and/ore responsibility
Staff motivation leads too:
The business paying less to employees
Higher labor turnover
Increased output and profit
Which of these is a disadvantages of Taylors Scientific Method?
If workers achieved their target output they got more money
In some jobs it is difficult to measure employee output
Money is sometimes hard to find
Adds a variety of different tasks of the same level to make job more diverse
Involves workers swapping round and doing each specific task or working in a different department for a limited amount of time
Involves adding more responsibility with different skills