MGT REPORT
MOTIVATION
THROUGH
RECOGNITION
AND PRIDE
Steps to be an effective motivator
1. Identify a meritorius behavior
2. Recognize the behavior with an oral, written or material reward.
PRIDE
1. Feedback is an essential part of recognition.
2. Praise is one of the most powerful forms of recognition. 3. Rewards and recognition programs should be linked to organizational goals.
4. Employee input into what type of rewards and recognition are valued is useful.
5. It is important to evaluate the effectiveness of the reward and recognition program.
MOTIVATION
THROUGH
FINANCIAL
INCENTIVES
Forms of Financial Incentives
•
•
•
•
•
TIME RATES
PAYMENT BY RESULTS
PERFORMANCE AND PROFIT RELATED PAY
SKILL/COMPETENCY BASED PAY
CAFETERIA OR FLEXIBLE BENEFITS SYSTEM
Time
Rates
A monetary reward that use the number of hours worked as a means of determining reward. It may be classified as hourly rate, weekly wage or a monthly salary.
ADVANTAGE
• Open to inspection and equitable because employees doing the same job will be on the same grade level
• Encourages the retention of human resources by stability and this is because of the gradual increases in rewards within the given grades
• Relatively easy to administer and allows labor cost to be predicted
DISADVANTAGE
• Does not productive motivate employees to become more
Pay to the quantity of the individual’s output Example: The commission paid to a salesman for selling the company’s products.
ADVANTAGE
• Employee is motivated to put extra effort
• There is fairness because the level of reward is related to the level of output
• There are likely to be cost advantages since wages are directly linked to production and less supervision is required DISADVANTAGE
• Outputs in certain jobs cannot be easily measured
• Safety standards may be compromised
• Workers may view payment by results as a device to obtain greater effort from them without commensurate rewards
PERFORMANCE RELATED
PAY
This scheme considers results or output
THROUGH
RECOGNITION
AND PRIDE
Steps to be an effective motivator
1. Identify a meritorius behavior
2. Recognize the behavior with an oral, written or material reward.
PRIDE
1. Feedback is an essential part of recognition.
2. Praise is one of the most powerful forms of recognition. 3. Rewards and recognition programs should be linked to organizational goals.
4. Employee input into what type of rewards and recognition are valued is useful.
5. It is important to evaluate the effectiveness of the reward and recognition program.
MOTIVATION
THROUGH
FINANCIAL
INCENTIVES
Forms of Financial Incentives
•
•
•
•
•
TIME RATES
PAYMENT BY RESULTS
PERFORMANCE AND PROFIT RELATED PAY
SKILL/COMPETENCY BASED PAY
CAFETERIA OR FLEXIBLE BENEFITS SYSTEM
Time
Rates
A monetary reward that use the number of hours worked as a means of determining reward. It may be classified as hourly rate, weekly wage or a monthly salary.
ADVANTAGE
• Open to inspection and equitable because employees doing the same job will be on the same grade level
• Encourages the retention of human resources by stability and this is because of the gradual increases in rewards within the given grades
• Relatively easy to administer and allows labor cost to be predicted
DISADVANTAGE
• Does not productive motivate employees to become more
Pay to the quantity of the individual’s output Example: The commission paid to a salesman for selling the company’s products.
ADVANTAGE
• Employee is motivated to put extra effort
• There is fairness because the level of reward is related to the level of output
• There are likely to be cost advantages since wages are directly linked to production and less supervision is required DISADVANTAGE
• Outputs in certain jobs cannot be easily measured
• Safety standards may be compromised
• Workers may view payment by results as a device to obtain greater effort from them without commensurate rewards
PERFORMANCE RELATED
PAY
This scheme considers results or output