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Motivation at Work Key Terms: Term Description Examples Motivation Reason why workers want to work hard and work effectively for the business. Motivation can be increased by: a. Monetary rewards b. Non-monetary rewards c. Introducing ways to give job satisfaction. (a) Monetary rewards Wage: payment for work, usually paid weekly. Can be calculated by the number of hours worked (called time rate) and paid overtime or can be paid depending on the quantity of products made (called piece rate). Salary: payment for work, usually paid monthly. In addition, some salaried workers also get commission paid (more pay the more goods they sell) or profit sharing (share of the profits paid to employees) or bonus (lump sum paid to workers if they have worked well) or performance-related pay (pay which is related to the effectiveness of the employee). $10,000 per year (b) Non-monetary rewards Sometimes called fringe benefits. These are extra benefits given to employees in addition to their pay. Children's education fees paid, discounts on the firm's...

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