BUSI 3310 Chapter Notes - Chapter 6: Telecommuting, Merit Pay, Motivation
2 Mar 2018
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Piece-rate: a pay system in which individual workers are paid a certain sum of money for each unit of production completed. Wage incentive plans: various systems that link pay to performance on production jobs. Restriction 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 a retirement supplement. Employee stock ownership plans (esop"s): incentive plans 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.
