COMMERCE 1BA3 Lecture Notes - Lecture 12: Blue-Collar Worker, Loonie, Teal
22 Oct 2016
School
Department
Course
Professor
Document Summary
Instructor: devon donaldson fill-in for dr. teal mcateer. Money as a motivator often underestimated but is a very powerful tool . Can be blue collar, where the work is mundane and easy to identify performance to pay ratio. Blue collar is usually tied to piece rate (overall production) Can be white collar, where the work is ambiguous in nature so it is not easy to identify performance to pay ratio. Tied to performance review structure (performance review should be at least 4 times a year, but can do it monthly) Used to set goals for employees, as well as track their performance based on expectations. If employee exceeds expectations then a raise is expected versus an employee who is below expectations. Confidentiality policy for pay is important since some companies have this. Having a transparent pay policy can be demotivating since employees may feel an injustice. A way to pay employees with stock which does two things.
