mgmt340-6

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Author:
ehan721
ID:
35898
Filename:
mgmt340-6
Updated:
2010-09-20 14:55:30
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mgmt340
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Description:
MGMT340 - CH.6
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  1. Intrinsic Rewards
    inner rewards produced by type of work or job itself (challenging work employee involvement)
  2. Extrinsic Rewards
    tangible rewards provided by type of job or quality of work ($$$ is most significant extrinsic reward, as it provides many with identity - right or wrongly)
  3. Predictability of Rewards
    Predictable/unpredictable rewards (unpredictable rewards can create anxiety)
  4. Self-Leadership
    The process of influencing ourselves to establish the direction and motivation needed to perform a task

    • Includes concepts/practice from:
    • - Goal setting
    • - Social learning theory
    • - Sports psychology
  5. Empowerment
    A command and control system puts responsibility for performance solely in manager's hands, versus empowering employees to figure out how to best get job done and figure problems out on their own.
  6. Dimensions of Empowerment
  7. Job Enlargement
    Adding task to an existing job

    • Example: video journalist
  8. Job Rotation
    Moving from one job to another

    • Benefits
    • - Minimizes repetitive strain injury
    • - Multiskills the workforce
    • - Potentially reduces job boredom
  9. Herzberg's Motivator-Hygiene Theory
    Employees are primarily motivated by growth and esteem needs (motivators) versus lower-level needs (hygiene factors)

    Hygiene factors do not promote satisfaction or engagement, ONLY prevent dissatisfaction.

    Only motivators - factors that promote personal growth and self-esteem - produce satisfaction and engagement.
  10. Job Specialization
    Dividing work into separate jobs that include a subset of the task required to complete the product or service.
  11. Job Design
    Assigning tasks to a job, including the interdependency of those tasks with other jobs. Goal is to create jobs that allow work to be performed efficiently while at same time motivate and engage employees.
  12. Balanced Scorecard (BSC)
    A reward system that pays bonuses for improved results on a composite of financial customer, internal process, and employee factors.

    • Improving Reward Effectiveness
    • - Link rewards to performance (BSC)
    • - Ensure rewards are relevant
    • - Rewards what you want
    • - Ensure rewards are valued
  13. Performance-Based Rewards
    Individual / Team / Organizational Rewards
  14. Gainsharing
    A reward system in which team members earn bonuses for reducing costs and increasing labor efficiency in their work process.
  15. Skill-Based or Competency-Based Rewards
    • Pay increases with skills/competencies acquired and demonstrated
    • - Pay increases with skill modules learned
    • - More flexible work force, better quality, consistent with employability.
    • - Cross-training to learn new skills would provide more rewards.
  16. Job Status-Based Rewards
    • Includes job evaluation and status perks
    • - Job evaluation tries to maintain pay equity
    • - Higher status jobs receive greater rewards
    • - Motivates competition for promotions
  17. Membership/Seniority Based Rewards
    • Fixed wages, seniority increases
    • - Guaranteed wages may attract job applicants
    • - Seniority-based rewards can reduce turnover
    • - Doesn't motivate job performance
    • - Discourages poor performer from leaving
    • - Pay for pulse
  18. Types of Rewards in the Workplace
    • - Membership and seniority
    • - Job status
    • - Competencies
    • - Performance-based
  19. Employee Involvement
    • - Employees only motivated by involvement in decisions on issues relevant to them.
    • - Research shows that employee involvement has a modest influence on the decision variables.
    • - It is not a sure means for improving employee performance.
    • - Is an intrinsic reward.
  20. Improving Reward Effectiveness
    • - Link rewards to performance
    • - Ensure rewards are relevant
    • - Reward what you want
    • - Ensure rewards are valued

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