Reward Systems All Understand different rewards systems used

Reward Systems All: Understand different rewards systems used by business Most: Explain the different rewards systems used Some: Apply the different rewards systems used

Reward systems Job satisfaction Monetary rewards Non monetary rewards Job satisfaction – comes from working environment, type of work, colleagues, hours of work, fringe benefits. What else?

Job satisfaction can be improved through: 1. Job rotation – people doing different jobs and changing round preventing the jobs from being boring and repetitive 2. Job enrichment – giving the employee additional tasks or responsibility to do

Monetary rewards Wages / Salaries Commission – for specific work done Bonus Profit sharing Share ownership.

Non monetary rewards Company car Healthcare School fees paid Discounts on company products Health clubs Subsidised canteen Pension Team Working Consultative committees

http: //www. youtube. com/watch? v=u 6 XA Pnu. Fj. Jc

HWK Task Look at a business you are familiar with. Describe methods of motivation that you think it would use. - Non financial - Financial Explain why you think it would use these methods. Explain how these methods link to the motivation theorists we have studied – Maslow, Mayo, Herzberg, Taylor & Vroom.