Incentives

Incentives

Incentives

There are 2 main types of incentives:

  • Individual incentives - Incentives are given based on an individual's work.
  • Group incentives - Incentives are given based on a group's work (or even the whole company's).

The incentives can be offered in different ways such as:

  • Piece rate - Employees are paid for each product that they produce.
  • Profit sharing - Receiving a one off bonus for high sales.
  • Measured day work - Payment based on the amount of work done over a period of time.
  • Profit related - Receiving a percentage of the sales revenue.
People

Drucker's functions of management

Drucker's functions of management

People

Empowerment

Empowerment

People

Fayol's functions of management

Fayol's functions of management

People

Job enlargement and rotation

Job enlargement and rotation

People

McGregor's theory of X and Y

McGregor's theory of X and Y

People

Motivation at work

Motivation at work