Employee Motivation Employee Motivation is considered as a significant aspect where in employers have to deal with needs and preferences of employees. Several types of benefits are required to be provided to the employees so that they can feel motivated. Employee motivation also aids in employee retention and job satisfaction.
Financial and Non financial motivation Monetary MotivationNon-monetary Motivation Types of Motivation
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Motivation Financial MotivationNon- Financial Motivation Motivationcanbeprovidedthrough financial resources such as rewards, incentives and other financial benefits. Non–Financialmotivationcanbe givenintheformofrecognition, appreciationandotherencouraging benefits.
Maslow's theory of Motivation There are five hierachies in the theory and managers are required to consider needs of employees at different stages. The theory is useful in depicting various needs of employees and how it changes the behavioral aspects and work performance as well. In order to apply the theory, employers need to out the employees on all the hierarchies.
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Herzberg Theory of Motivation Herzberg theory is useful as it can aid the employer to identify all those aspects that promotes work environment. Thetheoryalsoincludesallthoseforcesthatimpactsemployee motivation and work culture. The theory can be applied on the basis of motivators and hygiene factors.
Aims and Objectives Aim: The main aim of the company is to offer quality as well as fashionable clothes to men and women both. Objectives: To offer unisex clothes to the customers To increase the sales within year ending by 5%. To maximize the interest of employees in the organization
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Different management styles Leaders and managers will be using Democratic style in which staff members will also be included in company's decision making process. Concern will be given to employee motivation and engagement. Therewillbedirectcommunicationbetweenemployeesand managers.
Types of training The company has the availability of provision of job rotation in which employees could be transferred to different job profiles. External as well as internal training sessions are organized at the store so that sales development skills can be developed among employees.
Monetary Rewards The company provides monetary rewards such as bonus, increment in salary, company benefit schemes and share options. Bonus Half yearly bonus according to target achievement Above the target of£200 Salary increment Yearly basis 10-20% on the basis salary Availability of company benefit schemes Compensation scheme for extra work Medical benefits Employee Provident Fund scheme Share options 10% dividend to shareholders Share allotment according to capital employed
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Scenario 4 P6 Employee performance is measured and evaluated on the basis of several parameters and this assists the people to get appraisal against the work performed. Performance appraisal will be conducted on yearly basis and around 10% appraisal will be given to every employee. Appraisal criteria are different for employers and employees both. Decisionsofmanagersandemployeeswillbeincludedinemployerand employee appraisal process.
Contd.. EmployersEmployees Helps the employers to motivate the employees towards better productivity The process is useful for employer to retain the employees for longer time period This is also significant for acquiring long term sustainability. This aids the employees to derive benefits from rewards, incentives and other financial schemes Financial and non- financial motivation helps the employees to contribute in productivity level.
References Kippenberger, T., 2002.Leadership Styles: Leading 08.04. John Wiley & Sons. Latham, P. G., 2007.Work Motivation: History, Theory, Research, and Practice.SAGE. Marques, J., 2007.The Awakened Leader: One Simple Leadership Style That Works Every Time, Everywhere. Personhood Press. Fleetwood, S. and Hesketh, A., 2010.Explaining the Performance of Human Resource Management.Cambridge University Press. Trim, J. R., 2004. Human resource management development and strategic management enhanced by simulation exercises.Journal of Management Development. 23(4). pp.399-413 Miner, B. B. J., 2012.Role Motivation Theories. Routledge.