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Recognizing emplyee contribution with pay - Coggle Diagram
Recognizing emplyee contribution with pay
3 Theories that explain the effect of compensation on individuals
Reinforcement theory
Expectancy theory
Intrinsic and Extrinsic Motivation
Agency theory
pay programs for
recognizing employees’ contributions
merit pay
skillbased pay
merit bonuses
incentive pay
gainsharing
profit sharing
ownership
Managerial and Executive Pay
Top managers and executives are a strategically important group
In some companies, rewards for executives are high regardless of
profitability or stock market performance.
Executive pay can be linked to organizational performance
balanced scorecard
Financial
Customer
Internal
Learning and growth
Process and Contest Issues
Emplyee participation in decision making
Communication
Pay and process: interwined effects
Pay strategy dimensions
Risk sharing
Pay level in long run potential
Pay level in short run
Benefits level
Time orientation
Pay unit of analysis
Centralization of pay decisions