BUS 2090 Chapter Notes - Chapter 6: Peter Drucker, Bell Canada, Job Rotation

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23 Jun 2013
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Bus 2090 chapter summary: chapter 6 motivation in practice. Both employees and managers underestimate the importance of money as a motivator. According to maslow & alderfer, pay should be especially important to people with strong lower-level needs such as food and shelter. Using hierarchy terminology (maslow"s hierarchy of needs), pay can satisfy social, self-esteem and self-actualization needs. According to expectancy theory, pay should be a good motivator if it is clearly tied to performance. Research supports the motivational effects of pay, it even suggests that it may be the most effective motivator. Piece-rate a pay system where individual workers are paid a certain sum of money for each unit of production completed. Wage incentive plans various systems that link pay to performance on production jobs. Not a very high percentage of production companies use this system. However, several major corporations such as lincoln electric company have used it successfully i. e. high paying jobs, low employee turnover.

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