BUS 272 Chapter Notes - Chapter 5: Employee Stock Ownership Plan, Life Insurance, Performance Appraisal

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 272
• Professor: Lieketen Brummelhuis

Document Summary

Demonstrate how the different types of variable-pay programs can increase employee motivation. Variable-pay program a pay plan that bases a portion of an employee"s pay on some individual and/or organizational measure of performance. Gainsharing - a group-based incentive plan in which improvements in group productivity determine the total amount of money to be shared. Profit-sharing plan - an organization-wide incentive plan in which the employer shares profits with employees based on a predetermined formula. Employee stock ownership plan (esop) - a company-established benefit plan in which employees acquire stock as part of their benefits. Eg. stock options give employees the right to buy stocks in the company at a later date for a guaranteed price. Flexible benefits - a benefits plan that allows each employee to put together a benefits package individually tailored to his or her own needs and situation. Alain boudreau and yasmin murphy have very different needs in terms of employee benefits.