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Chapter 5

Chapter 5.doc

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Department
Commerce
Course Code
COMM 292
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All

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PART 2 STRIVING FOR PERFORMANCEChapter 5 Motivation In ActionFROM THEORY TO PRACTICE THE ROLE OF MONEYmoney commonly used reward but often relationships in workplace matter more than paymen seem to value money more than womenCREATING EFFECTIVE REWARD SYSTEMSEMPLOYEE RECOGNITIONRewarding a behaviour w recognition immediately afterlikely to encourage its repetitionPublicly recognize accomplishments of those w strong need for social acceptanceCelebrate team success to enhance group cohesivenessmotivationWays to recognize employees Thank You cardsemails putting him on prestigious committees etc turnoverVARIABLEPAY PROGRAMS reward program in which a portion of an employees pay is based on some individual andor organizational measure of performanceearnings fluctuate updown w measure of performance no guarantee to earn same amount every yrcommon among nonunionized companiesrisky employees may worry bc cannot predict wages ahead of timeconsistent w Expectancy Theory strong relationship btwn performancerewardsmotivationIndividualBased PieceRate piecerate pay planindividualbased incentive plan in which IncentivesWagesemployees are paid a fixed sum for each unit of production completedin many companies employees earn a base hourly wage plus a piecerate differential eg commissions based on salesBonusesonetime rewards for defined work rather than ongoinga way to acknowledge superior performancecan result in ve behaviourGroupBased Gainsharing groupbased incentive plan in which improvements in group Incentivesproductivity determine the total amnt of money to be shared profit sharing gainsharing focuses on productivity gains not profits rewards behaviours less influenced by external factorscan receive reward even when organization not profitableformulabased usually 5050OrganizationalProfitSharingorganizationwide plan in which employer shares profits w Based IncentivesPlanemployees based on a predetermined formula
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