HT-MGT 260 Chapter Notes - Chapter 14: Merit Pay, Job Enrichment, Job Rotation
14 Dec 2018
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Compressed workweeks- arrangements in which the employee works the required number of hours (typically 40) but does so in fewer than 5 days. Employee stock ownership plans (esops)- group-level reward systems in which employees are gradually given a major stake in the ownership of a corporation. Job rotation- systematically moving employees from one job to another. Merit-pay plans- compensation plans that formally base at least some meaningful portion of compensation on merit. Scanlon plan- gainsharing plans in which teams or groups of employees are encouraged to suggest strategies for reducing costs; gains are distributed not just to the team that suggested and developed the ideas but to the entire organization. Work teams- an arrangement in which a group is given responsibility for designing the work system to be used in performing an interrelated set of jobs. Base salary- a guaranteed amount of money that the individual will be paid.
