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Sandra owns a computer software business selling a range of games and small-business packages - HSC - SSCE Business Studies - Question 23 - 2002 - Paper 1
Question 23
Sandra owns a computer software business selling a range of games and small-business packages. She employs two full-time and three part-time sales staff. (a) Descri... show full transcript
Worked Solution & Example Answer:Sandra owns a computer software business selling a range of games and small-business packages - HSC - SSCE Business Studies - Question 23 - 2002 - Paper 1
Step 1
Describe ONE example of a financial reward and ONE example of a non-financial reward that Sandra could use to motivate her staff.
Answer
A financial reward that Sandra could use to motivate her staff is a performance bonus. This bonus provides employees with additional payment based on their sales achievements or contribution to the company’s goals. Such incentives can drive employees to enhance their productivity and sales performance.
An example of a non-financial reward could be employee recognition programs. By publicly acknowledging and celebrating the efforts and achievements of her staff, Sandra can foster a positive work environment, boost morale, and increase employee engagement.
Step 2
Outline TWO indicators that Sandra could use to measure the effectiveness of these rewards.
Answer
One indicator that Sandra could use is employee turnover rate. A decrease in turnover may suggest that her financial and non-financial rewards are effectively motivating staff to stay with the company.
Another indicator is employee satisfaction surveys. By regularly collecting feedback through surveys, Sandra can assess how her staff feels about the rewards and whether they believe these incentives positively impact their work motivation and job satisfaction.