Re-cap Financial Methods of Motivation

These are normally paid per hour and employees receive them at the end of a week

• Wages

• Salary

• Bonus

• Commission

Paying workers for each item which they produce

• Time Rate

• Salary

• Wages

• Piece Rate

These are based on a year's work and are paid monthly

• Wage

• Profit Share

• Bonus

• Salary

A one-off payment for good individual or company performance

• Time Rate

• Bonus

• Commission

• Performance Wage

A percentage of the sale price of a good or service which the sales person keeps

• Bonus

• Profit Sharing

• Performance Related Pay

• Commission

Each employee receives a share of the overall annual profits

• Bonus

• Comission

• Annual Wage

• Profit Sharing

Paid to employees who meet certain individual targets

• Performance Related Bonus

• Performance Related Pay

• Performance Related Salary

• Bonuses/Comission

Piece rate will .....

• Always increase quality

• Improve motivation of managers

• Often increase speed and therefore productivity

• Improve employee relationships

Salaries are normally ....

• Paid weekly

• Paid monthly

• Paid yearly

• Paid sometimes

UK average salary for train and tram drivers is ....

• £24,995

• £47,101

• £18,893

• £58,491