COMMERCE 1B03 Lecture Notes - Lecture 4: Numbers Game, Highscope, Flextime
19 May 2016
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Document Summary
Piece-rate: a pay system in which individual workers are paid a certain sum of money for each unit of production. Wage incentive plans: various systems that link pay to performance on production jobs. Prediction of productivity: the artificial limitation of work output that can occur under wage incentive plans. Merit pay plans: systems that attempt to link pay to performance on white-collar jobs. Lump sum bonus: merit pay that is awarded in a single payment and not built into base pay. Profit sharing: the return of some company profit to employees in the form of a cash bonus or retirement supplement. Employee stock ownership plans (esops): incentives that allow employees to own a set amount of a company"s shares and provide employees with a stake in the company"s future earnings and success. Gainsharing: a group pay incentive plan based on productivity or performance improvements over which the workforce has some control.
