• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Retention is how a business keeps its workers, financial and non-financial methods are used to retain staff and motivate them to want to stay.

Extracts from this document...


Retention Retention is how a business keeps its workers, financial and non-financial methods are used to retain staff and motivate them to want to stay. Methods of retention Payment Systems Pay is a method used for motivating staff, it can be used to give employees incentives and encourage them to work harder and more efficiently. Different payment systems have been devised to pay and motivate different types of workers. Wages are usually paid on an hourly or weekly basis in return for the labour provided by the employee. Wages tend to be paid to manual workers e.g. building site labourers and production works. Time Rate is when an employee is paid for the amount of time they work by the hour or by the day. This method of pay encourages workers to work for longer, however, they are paid the same amount per hour regardless of how good their work is or how hard they work. Piece Rate is when a worker is paid for the number of products they make. ...read more.


It is offered to staff to help them prepare urgent orders or cope with sudden increases in demand. Fringe benefits are what some employees receives as well as their wage or salary. They are a way of motivating staff other than by offering them more money. Fringe benefits include: * company Car * discount off the company's products * luncheon vouchers * free health care * free trips abroad * free membership to a gym * free pension * free bus service to work * subsidised canteen meals * free uniforms (they give employees a sense of belonging) Training provides existing employees with new skills and experiences, this can benefit low level employees as it allows them the opportunity to learn more once they are trained. Training also makes employees jobs more interesting. * On-the-job training - learning new skills and being trained whilst doing the job. * Off-the-job training - an employee completes a training course away from their job in order to learn new skills. ...read more.


Maslow's hierarchy suggests that if workers are de-motivated the company should look at what 'need' on the hierarchy they need to satisfy next and try to help them achieve it. This will motivate them to work harder and they will be more content at work. Frederick Herzberg Herzberg analysed characteristics of jobs. In Pennsylvania, in the 1950's, he conducted a survey of 200 engineers and accountants. He asked them to describe the factors that made them feel very satisfied or dissatisfied in their jobs. From his research Herzberg split his findings into two different groups: Maintenance/Hygiene Factors Can create job dissatisfaction Motivation Factors Can create positive job satisfaction * Pay * Working conditions e.g. good heating * Boring Work * Interesting work * Recognition for Achievement * Promotion and Responsibility Maintenance or Hygiene Factors These are factors which do not motivate the workers, but if these factors are not very good then workers will be de-motivated and output can decline. Motivation Factors These are factors that can motivate workers and encourage them to work harder, they will also have higher job satisfaction. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE People in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE People in Business essays

  1. For my business course, I have been asked to prepare a report for a ...

    For my extension piece, if I chose to do it, I have to look at other ways in which objectives can be met and show how a change in structure or functions to achieve the objectives with the alternative approaches.

  2. Leaving? A question all employers ask of their staff if they leave the company ...

    All suggestion made could be useful nationally with amendments to take account of different dynamics in different locations. The store manager at Company X is treated as the top manger for the purpose of this study. Company X is a large retail company with the stores and distribution centres spread throughout the UK.

  1. Business at Work - ASDA

    Without communication it is impossible for any business to succeed. This is why communication is very important to Asda as it is needed for the business to succeed and meet its aims. Asda have a daily meeting across all their branches which they refer to as a daily huddle.

  2. The stages involved in recruiting new staff.

    The accepted applications will be forwarded onto human resources department, managers or people with the same experience or someone above the hierarchy. Sometimes accepting application also means that they are taking in application for future uses. This means that they will take in application but will not be hiring because

  1. Communications in Health & Social Care.

    The best way is for the staff to use communication to encourage her not to threaten her self-esteem. To do this first talk to only a few children instead of the whole class. Also the staff should continue to ask open-ended questions and become enthusiastic by using interventions e.g. "Wow!"

  2. Barclays - How an existing business runs from day to day.

    This was largely because the changes made in the years before paid off in the year 2000. I have looked at the history of Barclays and seen how it has grown into the large PLC it is today. I am going to evaluate the benefits and constraints of the classification

  1. Recruitment, Retention & Dismissal

    The HR Department also offer each member of staff the opportunity to increase their staff flexibility within the business by way of training, in attempt to minimize the level of staff turnover. Tesco also try to keep staff within the company by way of reward/incentive.

  2. Self-Efficacy Theory Explanation for the Managementof Remote Workers in Virtual Organizations

    People with strong self-efficacy beliefs exert greater efforts to master a challenge while those with weak self-efficacy beliefs are likely to reduce their efforts or even quit (Bandura & Schunk, 1981; Brown & Inouyne, 1978; Schunk, 1981; Weinberg, Gould & Jackson, 1979).

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work