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MHR 523 (473)

Study Notes: Chapter 12.docx

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Human Resources
MHR 523
Pat Sniderman

Chapter Twelve Pay for Performance and Financial Incentives MHR Notes Variable Payany plan that ties pay to productivity or profitability Incentives for Operations Piecework Plans Pieceworka system of pay based on the number of items processed by each individual worker in a unit of time such as items per hour or items per day Straight Piecework plana set payment for each piece produced or processed in a factory or shop Guaranteed Piecework planthe minimum hourly wage plus an incentive for each piece produced above a set number of pieces per hour Advantages of Piecework Plans simple to calculate and easily understood Disadvantages of Piecework Plans poor reputation amongst workers since employer could raise production standards if workers were earning excessive wages employees become more concerned about meeting production demands rather than up keeping production quality Standard Hour Plana plan by which a worker is paid a basic hourly rate plus an extra percentage of his or her base rates for production exceeding the standard per hour or pe
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