ADMS 2400 Lecture Notes - Lecture 5: Alfie Kohn, Flextime, Performance Appraisal
19 Nov 2018
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Document Summary
Money is the most commonly used reward in organizations. But, money is not the top priority for many employees. Internal equity the worth of the job to the organization (job evaluation) External equity the competitiveness of an organization"s pay relative to industry standards. Many firms are moving towards variable-pay programs a portion of an employee"s pay is based on some individual and/or organizational measure of performance. Piece-rate pay plans pay a fixed sum for each unit of production completed. Merit-based pay is based on performance appraisal ratings. Bonuses one-time rewards for defined work rather than ongoing entitlements. Skill-based pay pay based on how many skills employees have or how many jobs they can do. Gainsharing focus on productivity gains improvements in group productivity determine the rewards to be shared. Pay levels are set based on how many skills employees have or how many jobs they can do .
