business financial motivation McGregor theory

1. Financial
Motivation

2. Ayesha BangUra Torique Boyce
Jaesamond Cato Carlene Joseph
Group Members :
Financial Motivation
Genesys Joseph Deborah Paul
Aaron Williams

3. Finanial motivation
The use of Monetary Incentves to encourage a desired
behaviour amongst employees.
In the work place it can be argued that money is the main force
that motivates employees to be productive.

4. Examples of financial theory implications
Commission
A type of payment plan used by salespersons. Employees are
rewarded for making several sales in the business at a given
time. The reward received by the employee is a percentage of
the total sales value of goods or service soldesentations are
communication tools that can be used as demonstrations,
lectures, speeches, reports, and more. Most of the time, they're
presented before an audience.
Example:
You work for a Toyota car dealership and you close
a deal with a client for a brand new 2023 Toyota
Corolla for $50,000. Y our commission for each car
sale is 5% hence you will receive $2500 along with
the normal salary you earn.

5. Examples of financial theory implications
Profit Sharing
Example:
Goodman Inc. shares 10% of its annual profits with its
employees. in the year, the firm made a profit of
$10,000,000. The share of pool in this instance will
be $1,000,000This then distributed amongst the
employees within the firm.
A stratergy in which firms share a part of the profit earned with
the employees. the employees anfd the shareholders eceive the
same benefits whenever the firm makes profit.

6. Examples of financial theory implications
Piece rates
This method involves the employee receiving an amount of
money per unit or per price that he/she produces. Therefore
his/her pay is directly linked to their productivity level.

7. The implications of financial motivation for managers
MANGERS
If the rewards are not
continuos employees
may lose the incentive to
work hard or effeciently.
This may also cause
employees to work even
harder to receive there
“rare” financial benefit.
CONSISTENCY
Managers are to asses
their employees and
decide which method of
financial motivation
works for them.
Asses and Determine
An example of which can be
promotions .
Give praise or recognition to
employees
Ensure fair pay levels
are established

8. Financial Motivation