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Business 2

The document discusses various factors that influence worker motivation, including money, job security, and work environment, and highlights the benefits of a motivated workforce such as improved productivity and lower absenteeism. It reviews key motivational theories, including F.W. Taylor's Scientific Management Theory, Maslow's Hierarchy of Needs, and Herzberg's Two-Factor Theory, each outlining different aspects of what drives employee motivation. Additionally, it explores methods of motivation, both financial and non-financial, that organizations can implement to enhance job satisfaction and performance.

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9 views5 pages

Business 2

The document discusses various factors that influence worker motivation, including money, job security, and work environment, and highlights the benefits of a motivated workforce such as improved productivity and lower absenteeism. It reviews key motivational theories, including F.W. Taylor's Scientific Management Theory, Maslow's Hierarchy of Needs, and Herzberg's Two-Factor Theory, each outlining different aspects of what drives employee motivation. Additionally, it explores methods of motivation, both financial and non-financial, that organizations can implement to enhance job satisfaction and performance.

Uploaded by

shaneisemiranda11
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Motivation: factors that influence the workers' behavior towards achieving business

goals.

Factors that influence motivation at work:


Money
Job Security
Training
Promotion
Status
Responsibilities
Work environment

Benefits of a Well-Motivated Workforce


Improved labor productivity (Labour productivity means a measure of the efficiency of
workers by calculating the output per worker)
Low rate of absenteeism (Workers’ non-attendance at work without a good reason)
Low rate of labor turnover (Labour turnover is the rate at which workers leave the
business)
Better quality goods and services

●​ Key Motivational Theories


F.W. Taylor - Scientific Management Theory
It aims to reduce inefficiency in the workplace by finding the quickest method of
performing tasks and training all workers to use this method.
The theory of economic man: the theory that humans are only motivated by money, in
which Taylor believed that money was the only motivational factor.
The piece rate method of paying production came from his research.
Disadvantages of SMT
His ideas were too simplistic
If employees are unfulfilled with their work, productivity won’t be gained, no matter how
high the wage.
If employees’ output can’t be measured, practical problems arise.
Abraham Maslow: Concept of Human Needs - Maslow’s Hierarchy

Maslow's Hierarchy of Needs outlines five tiers of human needs that must be met for
individuals to reach their full potential. Once a tier of needs has been met it is unlikely to
continue to motivate
For example, once safety needs are met through satisfactory pay employees will look for
the next set of needs - social needs - to be met

Advantages and Disadvantages of Maslow’s Need Hierarchy Theory.


Fredrick Herzberg - Two-Factor Theory
According to Herzberg, humans have two sets of needs; one is for the basic needs, which
he called ‘hygiene’ factors or needs, and the second is for a human being to be able to
grow psychologically, which he called ‘motivational’ needs or ‘motivators. According to
Herzberg, the ‘hygiene’ factors must be satisfied, if they are not satisfied, they can act as
demotivators to the worker.

Advantages and Disadvantages of Fredrick Herzberg - Two-Factor Theory


Methods of motivation
1. Financial Rewards/Financial Motivators: cash and non-cash rewards paid to workers
motivate them to increase their efforts.
Wage: A wage is payment for work, usually paid weekly.
They can use time rate or piece rate to calculate wages.
Time rate is payment according to how many hours an employee has worked. It is used in
businesses where it is difficult to measure the output of a worker.
Piece rates are paid depending on how many units they have produced. There is usually a base
pay (minimum wage) and the piece rate is calculated as a bonus on how many units were created.
Piece rates are found in businesses where it is possible to measure a worker’s productivity.
Salary: Salaries are paid monthly and is counted as an amount per year that is divided
into 12 monthly accounts. It is transferred straight into the bank account. Salaries are
usually a standard rate, but other rewards could be given to employees.

Bonus: A lump sum paid to employees who have done well. It is usually paid at the end
of the year or before the holidays.
​ Commission: A percentage is paid, usually to sales staff, depending on the value of
​ goods they have sold.
​ Profit sharing: Employees receive a percentage of the profits made. However, they
​ will get nothing if the business doesn't make a profit.
There are other factors that motivate people in a business, and they are often called perks or
fringe benefits.
Children's education
Discounts on company products
Free holidays
Free Healthcare
Company vehicle
Free accommodation
Share options
Expense accounts
Pension.
2. Non-financial rewards/Non-financial motivators: non-financial methods of motivation are
focused on increasing the level of job satisfaction – the enjoyment from doing a job. There are
several ways in which a business can increase the job satisfaction of its employees.
Job rotation involves workers swapping around and doing each specific task for only a limited
time and then changing around again. It is easier for the managers to move workers around the
factory if people are ill and their jobs need covering.
Job enrichment involves looking at jobs and adding tasks that require more skill and/or
responsibility.
Teamworking involves using groups of workers and allocating specific tasks and responsibilities
to them.
Training is the process of improving a worker’s skills.
Promotion is the advancement of an employee in an organization, for example, to a higher job/
managerial level

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