2.4 Human Resources Management Motivation. When Financial Rewards are the Main Issue Type of financial reward How it is paidMotivation factorsDisadvantages.

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2.4 Human Resources Management Motivation

When Financial Rewards are the Main Issue Type of financial reward How it is paidMotivation factorsDisadvantages Salary lump sum that you get paid no matter how many hours you work (teacher) Wages (time rates) paid by the hour Wages (piece rates) how much can you produce in an hour Commission when you sell something you get $$ Profit-related pay company is doing well and you employees get $$ Performance Related Pay (PRP) cash based on how well you are working Employee Share- Ownership Schemes in stock options or maybe deed Fringe Payments (Perks) incentives/gifts/priz es

What else motivates employees besides $$  Sense of belonging  Improving business  Passion of the field they’re in  Improve reputation  When they can relate to corporate's objectives  If they like their boss  Sense of security  Good benefits (health, dental, vision)

5 Work Theorists that study Worker Motivation (There are more, but we are going to concentrate on 5) Theorists and Psychologists have a great deal in common—sometimes they are the same thing. If you take Psych 101 in college you will hear about some of these guys. Taylor, Maslow, Herzberg, Adams, Pink ? What did each believe to be true about workers? ?Why did/does it matter? ?What is the impact on our current society?

Frederick Winslow Taylor “The Hawthorne Studies”

Abraham Maslow “Hierarchy of Needs”

Frederick Herzberg (start at :56 seconds)

John Stacey Adams (not the President) “Equity Theory”

Daniel Pink “The Power of Incentives” (start at 4:45) (start at 3:53)