3.5 Motivation & retention |
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Key terms
Motivation is how workers are encouraged to work hard.
Retention of workers is when workers choose to stay in a firm rather than move elsewhere.
Motivation is how workers are encouraged to work hard.
Retention of workers is when workers choose to stay in a firm rather than move elsewhere.
Answers
> Financial rewards - Pay, wages, salary, bonuses, raise, profit sharing
> Fringe benefits - Pension contributions, car allowance, childcare vouchers, free / subsidised meals, private medical or dental cover
> Non-financial rewards - Praise, award schemes (e.g. worker of the month), working environment
> Financial rewards - Pay, wages, salary, bonuses, raise, profit sharing
> Fringe benefits - Pension contributions, car allowance, childcare vouchers, free / subsidised meals, private medical or dental cover
> Non-financial rewards - Praise, award schemes (e.g. worker of the month), working environment
Task 3
Paired activity
Consider how you would motive staff in each of the following scenarios:
Paired activity
Consider how you would motive staff in each of the following scenarios:
C. Following a company restructure, you have been asked to recruit a new B2B sales team. It is totally up to you what contracts you offer your staff.
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B. Your firm is a new player in the market. You are struggling to recruit and retain staff as the bigger more established businesses in the sector are paying more money than you can afford to offer.
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Stretch & challenge: Consider which methods will motivate you most in the workplace.
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Plenary
Class discussion Is there room for the stick as well as the carrot when it comes to the motivation and retention of staff? |