Non-financial rewards for motivating employees
Question 1 : Describe what is meant by motivation. What types of non-financial reward might a company use to motivate employees?
Motivation can be defined as the reason an individual is performing a task extremely well compared to normal behaviour. Besides that, it is also the process that initiates, guides and maintains goal-oriented behaviours. A well-motivated workforce can provide several advantages such as better productivity, lower level of absenteeism, lower level of staff turnover, and improve product quality. In short, motivation is needed for employees to always be effective and efficient and with that firms and companies can reduce expenses such as labour cost. To motivate employees, companies can use various type of non-financial reward such as recognition, rewards, opportunity and flexibility. Most of the non-financial rewards are related to the needs of the employees based on Maslow hierarchy of needs. Flexibility would be an ideal way to motivate employees because it shows that the company understand their daily routines and practices and not force them to work whenever they are not able to. Tesco that understands their employee’s work/life balance has adopted this reward which makes their employees motivated to come for work when they are able to which includes part time, full time, compressed hours and staggered hours. This will also cause the employees to feel comfortable and stay dedicated to the company. Apart from flexibility, rewards are given to employees such as free health benefits, discount on gym membership, staff discount on products and many more. Employees from every age group can gain from free health benefits. This shows that Tesco values their employee and at the same time creating trust and respect. Other benefits for staff include rewards called the Lifestyle break where employees get 4-12 week break and get their jobs back, Career break where employees gets 6 months to 5 years away with the right of return and the pension
Motivation can be defined as the reason an individual is performing a task extremely well compared to normal behaviour. Besides that, it is also the process that initiates, guides and maintains goal-oriented behaviours. A well-motivated workforce can provide several advantages such as better productivity, lower level of absenteeism, lower level of staff turnover, and improve product quality. In short, motivation is needed for employees to always be effective and efficient and with that firms and companies can reduce expenses such as labour cost. To motivate employees, companies can use various type of non-financial reward such as recognition, rewards, opportunity and flexibility. Most of the non-financial rewards are related to the needs of the employees based on Maslow hierarchy of needs. Flexibility would be an ideal way to motivate employees because it shows that the company understand their daily routines and practices and not force them to work whenever they are not able to. Tesco that understands their employee’s work/life balance has adopted this reward which makes their employees motivated to come for work when they are able to which includes part time, full time, compressed hours and staggered hours. This will also cause the employees to feel comfortable and stay dedicated to the company. Apart from flexibility, rewards are given to employees such as free health benefits, discount on gym membership, staff discount on products and many more. Employees from every age group can gain from free health benefits. This shows that Tesco values their employee and at the same time creating trust and respect. Other benefits for staff include rewards called the Lifestyle break where employees get 4-12 week break and get their jobs back, Career break where employees gets 6 months to 5 years away with the right of return and the pension