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Chapter 10

MGTA03 Chapter 10

7 Pages

Management (MGT)
Course Code
Chris Bovaird

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Chapter 10 Motivating and Leading Employees PSYCHOLOGICAL CONTRACTS IN ORGANIZATIONS Psychological Contract: The set of expectations held by an employee concerning what he or she will contribute to an organization (contributions) and what the organization will provide the employee (inducements) in return If either party sense inequity in the contract, there may be a change in the party. Employees can ask for a pay raise, promotion or bigger office. The organization can have change by training workers, improving their skills, terminating them In order for employers to get value from employees, they need the right inducements or else valuable employees will leave for better jobs, but overpaying them will make unnecessary costs as well Human Relations: Interactions between employers and employees and their attitudes toward one another Due to downsizing and cutbacks recently, many organizations cannot offer reasonable assurances of job permanence as an inducement anymore. Now its only benefits packages However, if psychological contracts are created, maintained and managed effectively then workers will be motivated and satisfied THE IMPORTANCE OF JOB SATISFACTION AND MORALE Job Satisfaction: The pleasure and feeling of accomplishment employees derive from performing their jobs well Morale: The generally positive or negative mental attitude of employees toward their work and workplace. Morale can be determined by job satisfaction, pays, benefits, promotion opportunities Why Businesses Need Satisfied Employees Satisfied workers are more likely to work hard and make useful contributions and less likely to engage in negative behaviours. Ensuring that workers are satisfied mean gaining a more efficient and smooth running company. Dissatisfied workers will be more absent and low morale may result in high turnover The percentage of an organizations workforce that leaves and must be replaced Sometimes minimal turnover is good to weed out bad workers but too much can cause disruption in production, decreased productivity, etc. MOTIVATION IN THE WORKPLACE www.notesolution.com
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