Motivation and Demotivation: Financial and Non-Financial Rewards

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What are financial rewards?

Back

Methods that businesses can use to motivate workers by using some form of monetary payment.

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What are non-financial rewards?

Back

Non-monetary factors that motivate people by offering psychological and intangible benefits.

Front

Name a theory that advocates non-financial methods of motivation.

Back

Maslow, Herzberg, or Pink.

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What is salary?

Back

Set at a fixed annual rate but paid on a monthly basis.

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What is a time-based payment system?

Back

A system that rewards staff based on the time they work, normally at an hourly rate.

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What is a piece rate payment system?

Back

Rewards workers based on the number of units they produce or sell.

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What is commission in terms of financial rewards?

Back

Pays workers a percentage of sales or output, usually in addition to a basic salary.

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What is performance-related pay (PRP)?

Back

A bonus scheme to reward staff for above-average work performance.

Front

What is profit-related pay?

Back

A bonus for staff based on the profits of the business, usually paid as a proportion of basic salary.

Front

What are employee share ownership schemes?

Back

Rewards workers, managers, and directors by giving them shares in the company or selling shares at a discounted price.