MGCR 222 Study Guide - Final Guide: Skunk Works, Problem Solving, Virtual Team

• School: McGill University
• Department: Management Core
• Course: MGCR 222
• Professor: Irv Rosenstein

Document Summary

Is the most commonly used reward in organization: money help needs get met, but it is not on the top priority to make a job satisfied, relationship with others is more important to job satisfaction. Balancing internal equity: worth of job (use job evaluation) and external equity (the external competiveness of an organization"s pay relative to pay elsewhere in the industry (pay survey)) Organization pay people based on the length of service but not using the variable-pay program: variable pay program: reward system in which a portion of an employee"s pay is based on some individual and organization measure of performance. Gain sharing: incentive plan where improvement in group productivity determines total amount of money that is allocated. Employees receive reward even organization is not profitable. This increases employees" job satisfaction and work motivation: profit-sharing plan: organization wide incentive plan in which the employer shares profits with employees, stock options and employee stock ownership plan (esop)