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business studies chapter 6


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[Front]


motivation
[Back]


reason why employees work hard and effectively for the business

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Motivation
Reason why employees work hard and effectively for the business
Wage
Payment for work, usually paid weekly
Salary
Payment for work usually paid monthly
Commission
Payment relating to the number of sales made
Profit sharing
System whereby a proportion of the company's profits is paid out to employees
Bouns
Additional amount of pay above the basic pay as a reward for good work
Performance related pay
Pay related to the effectiveness of the employee where their out put can easily be measured
Share ownership
Shares in the company are given to the employees so that they become part owners in the company
Appraisal
Method of assessing the effectiveness of an employee
Job satisfaction
Enjoyment from feeling that you have done a good job
Fringe benefits
Non-financial rewards given to employees
Job rotation
Involves each worker doing a specific task for a limited time until they have to rotate to do a different task
Job enlargement
Extra tasks to a similar level of work are added to a worker's job description
Job enrichment
Looking at jobs and adding tasks that require more skill and/or responsibillity