Sort it out… Sort the cards out in to two headings: Financial

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Sort it out… Sort the cards out in to two headings: Financial Non-financial

Learning Objectives TOPIC: Topic 2: Human Resources LESSON TITLE: Financial Vs Non-financial Rewards COMPETENCY FOCUS: Research (I1): you will develop your skills in research as throughout this topic, you will need to research the role of human resource in HRM, the different job roles that exist within an organisation and also the recruitment & selection documentation that the organisation uses to help recruit the right people for their vacant job roles. [IB Learner Profile Development: Inquirers] Learning Objectives By the end of the lesson, you should be able to… LO1) Distinguish between financial and non-financial motivation LO2) Explain the different types of motivation and their effect on employees LO3) Evaluate how financial and non-financial rewards can affect employee motivation. SMSC: You will assess the organisational culture of businesses in terms of fundamental structure, purpose and strategy development. CRITICAL THINKING KEY: Knowledge Application Analysis Evaluation

Financial Vs Non-financial FINANCIAL REWARDS NON-FINANCIAL Hourly Wage Rate Job Enlargement Piece Rate Job Enrichment Salary Team working Commission Empowerment/Delegation Performance-relate Pay (PRP) Profit-related Pay Employee Share-ownership Schemes Fringe Benefits

Research Task Research each of the methods of ‘financial’ and ‘non-financial’ rewards. Complete a master table like the one below: Type of Reward Main Features Advantages Drawbacks I.e. Hourly Wage

Exam Practice Complete the ‘Revision Activity’ on Pg. 155 [32marks, 60mins]

Reflection Reflect on what you have learnt this lesson. What do you need to know more about?