Please enable JavaScript.
Coggle requires JavaScript to display documents.
Recognizing employee contributions with pay - Coggle Diagram
Recognizing employee
contributions with pay
2. PAY FOR INDIVIDUAL PERFORMANCE
Straight Piecework Plan
employer pays same rate per piece no matter how much worker produces
Differential Piece Rates
Piecework Rate
wage based on amt an employee produces
Standard Hour Plan
Merit Pay
Sales Commision
5. PROCESS THAT MAKE
INCENTIVES WORK
Participation in Incentives
Communication
1. INCENTIVE PAY
Pay designed to energized, direct or control employees' behavior
Influential - Link to employees performance (individuals, group members, member in the org.)
Forms: Commission (for closing sale) or Bonus (if employees meet dls earlier)
Effective Incentive Pay Plan Requirements (6)
3. PAY FOR GROUP PERFORMANCE
Gainsharing
Conditions for effective Gainsharing (10)
Def.
Group Bonuses
Team Awards
4. PAY FOR ORGANIZATIONAL
PERFORMANCE
Profit Sharing
Stock Ownership
Stock Options
ESOP
4. BALANCED SCORECARD
Def:
4 categories
Financial
Customer
Internal
Learning & Growth
6. INCENTIVES PAY FOR EXECUTIVES
Short-term Incentives
Long-term Incentives
Performance Measures for Executives
Ethical Issues