4.3 - Motivation

Rhianna Nicoll
Mind Map by Rhianna Nicoll, updated more than 1 year ago
Rhianna Nicoll
Created by Rhianna Nicoll over 2 years ago
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Year 10 Business Studies (Section 4) Mind Map on 4.3 - Motivation, created by Rhianna Nicoll on 07/24/2018.
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4.3 - Motivation
1 Maslow's Hierarchy of Needs
1.1
1.1.1 Maslow studied why people work and established a list of needs that people want to achieve
1.1.2 The aim to achieve these in a certain order from basic physiological needs to self-actualisation
2 Why it is important to have motivated workers
2.1 increased productivity
2.2 improved employee retention
2.3 higher levels of sales
2.4 improved employee recruitment
3 How to motivate workers
3.1 increasing pay
3.2 job enrichment
3.3 training
3.4 management styles
3.4.1 managers retain authority
3.4.2 managers who allow junior employees to make decisions
3.5 fringe benefits
3.5.1 health insurance
3.5.2 company car
3.5.3 mobile phone
3.5.4 gym membership
3.5.5 staff discount
4 Methods of pay
4.1 time rate
4.1.1 a system in which staff are paid based on the number of hours worked
4.2 overtime pay
4.2.1 wages are paid each week and employees then work an agreed number of hours. A higher hourly rate (overtime) is paid for any additional hours worked. An increase in the hourly rate may be used to motivate employees
4.3 salary
4.3.1 The income received by an employee stated as an annual figure. Employees receiving salaries are not normally required to work a set number of hours per week. this may be motivated by an increase in salary and maybe with fringe benefits
4.4 piece rate/piecework
4.4.1 Employees are paid according to the number of products they produce. They are paid an agreed figure for each unit of output they produce, subject to them receiving the national living wage as a minimum rate of hourly pay
4.5 commission
4.5.1 This is a payment made to an employee based on the level of sales he or she has made over a time period. It is normally paid in addition to a wage or salary. In effect, it is a form of piecework paid to people employed to sell goods and services
4.6 bonus
4.6.1 A way in which employers reward their employees for a job well done. Offering regular significant bonuses is a way of keeping employees from finding work elsewhere.
4.7 profit-sharing
4.7.1 Under this method of payment, employees receive a share of the business's profits alongside their normal wages or salaries. This can motivate as employees benefit directly from an increase in the business's profits. many well-known companies e.g. john lewis, operate profit sharing schemes
5 Leadership styles - methods of motivation
5.1 Autocratic leadership
5.1.1 when the leader makes all of the decisions and the workers carry out the work. No or little discussion with the workers about the work
5.2 Laissez-faire leadership
5.2.1 means 'leave to do'. the leader will decide the main objectives of the business but the workers have the task of how they achieve said objectives
5.3 Democratic leadership
5.3.1 this is when the workers are allowed to discuss plans with the leader and influence decisions about what to do and how to do it
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