Organization study on monetary and nonmonetary motivation on mc donald's
A PRESANTATION ON Organization Study on Monetary & Nonmonetary Motivation on Mcdonalds PreparedBy:- Submitted to:- Vivek Damani Mrs.Neha Rathi Bhargav Pokar Mehul Rasadiya Shailesh HiraparaK.K. Parekh Institute of ManagementKhambholiya Manan Studies (Amreli)
ContentMotivationNatureImportanceTypesAbout McDonald’sMotivation in McDonald’s
Nature of Motivation•Motivation may be Financial or Non-financial•Motivation may be positive or Negative•Motivation leads to the Goals•Motivation is a unending process•It is concerned with each and everyindividual of organization
Importance of Motivation•Drives to the best result to the Goals•Helpful in building good labor relation•Improvement of skill and knowledge•Is important tool of Management•Improves relation between Manager and employees•Decreases wastage and accidents•Willingness of employee to work hard
Monetary motivation• Monetary motivators relate to money or any other benefits that can be converted or expressed into monetary unit.• Monetary motivators motivate individuals to join the organizations.• The financial package should motivate the present and prospective employees.
Non-monetary motivation• General hypothesis is that monetary incentives motivate employees for higher work.• Individuals have variety of needs that they want to satisfy while working in the organization• People attach more importance to sociopsychological needs that can not be satisfied by money alone at higher level of managerial hierarchy
• Rewards• Medical facility• Promotion• Job Satisfaction
About McDonaldBrief History of McDonald’s The first McDonalds was built in 1940 by the McDonald brothers (Dick and Mac) . The McDonald brothers realized that hamburgers were their most profitable menu item, and changed their business to serve a limited menu.
Cont……• McDonald’s is a large corporation in the fast food industry.• They have been around since 1955 when Ray Kroc started the chain of McDonalds. They have been growing ever since.• The majority of the restaurants are owned through franchises.
Cont…• They employ 447,000 people.• They have over 3,200 restaurants in over 119 countries.• Their primary competitors are other fast food chains such as Burger King and Wendy’s.• The McDonalds Brand is one of the most well known Brands in the world.
Motivation in McDonald’s • SHORT TERM INCENTIVE • LONG TERM INCENTIVE
Motivation in McDonald’s Short Term Incentives Short term goals and mechanism to achieve them affect mainly the annual salary, by using a standardized framework for all employees. The base salary is dependent on the employee’s level of responsibility and his individual level of performance. For example The salary at the level of a restaurant manager in the India is between 220000 and 320000.
Motivation in McDonald’s• Long Term Incentives• McDonald gives a target for her employee to achieving in During the time.• Employee’s achieve or complete his target at that time company was gift to world tour package.• And McDonald gives achievement Reward’s• McDonald’s Provide Job Security to his employees.
Process of Motivation Performance Monetary Non-Monetary Benefits Benefits Motivation Satisfaction