Photo AI
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 is a performance-based bonus. This is a monetary incentive given to employees based on their achievement of specific performance targets. For example, if the sales staff reach a monthly sales target, they could receive an additional percentage of their sales as a bonus, which directly motivates them to perform well.
A non-financial reward could be employee recognition through 'Employee of the Month' programs. This not only boosts morale but also fosters a positive workplace culture by highlighting and appreciating hard work and dedication, motivating staff through acknowledgment rather than financial compensation.
Step 2
Outline TWO indicators that Sandra could use to measure the effectiveness of these rewards.
Answer
One indicator Sandra could use is employee satisfaction surveys. By gathering feedback on how employees feel about the rewards system, she can assess whether the financial and non-financial rewards are effectively motivating her team. High satisfaction levels would indicate that the rewards are valued.
Another indicator is sales performance metrics. By analyzing sales figures before and after implementing the rewards, Sandra can gauge whether the financial bonus and recognition initiatives lead to improved sales results. An increase in sales would suggest that the rewards effectively motivate staff.