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1.Identify factors that make an organization a good place to work, including competitive compensation and benefits packages.
Management strategy used to increase job satisfaction by making jobs more interesting and challenging.Job RotationJob redesign strategy that allows employees to rotate from one job to another on a systematic basis.Job SharingWork arrangement in which two people share one full-time position.PieceworkCompensation paid to workers according to the quantity of a product that they produce or sell.Profit-Sharing PlanIncentive program that uses a predetermined formula to distribute a share of company profits to eligible employees.SalaryCompensation paid for fulfilling the responsibilities of a position regardless of the number of hours required to do it.Stock-Option PlansIncentive program that allows eligible employees to buy a specific number of shares of company stock at a set price on a specified date.TelecommutingWork arrangement in which the employee regularly works from home.WagesCompensation paid to employees based on the number of hours worked.KEY TAKEAWAYS•Employees report that they’re motivated to perform well when they’re challenged, respected, treated fairly, and appreciated.•Other factors may contribute to employee satisfaction. Some companies usejob redesign to make jobs more interesting and challenging.oJob rotation allows employees to rotate from one job to another on a systematic basis.oJob enlargement enhances a job by adding tasks at similar skill levels.oJob enrichment adds tasks that increase both responsibility and opportunity for growth.•Many organizations recognize the need to help employees strike a balance between their work and home lives and offer a variety of work arrangements to accommodate different employee needs.
•Flextime allows employees to designate starting and quitting times, compress workweeks, or perform part-time work.•With job sharing, two people share one full-time position.•Telecommuting means working from home. Many employers also offer dependent care, paid leave for new parents, employee-assistance programs, and on-site fitness centers.•Competitive compensation also helps.•Workers who are paid by the hour earn wages, while those who are paid to fulfill the responsibilities of the job earn salaries.