MHR 523 Study Guide - Career Development

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Chapter 12 pay for performance and financial incentives. 4. incentives for operations employees incentives for senior managers and executives incentives for salespeople incentives for other managers and professional employees: organization wide incentives. Straight piecework plan a set payment for each piece produced or processed in a factory or shop. Guaranteed piecework plan the minimum hourly wage plus an incentive for each piece produced above a set number of pieces per hour. Advantages simple to calculate for employees fair/ equitable in principle powerful incentive value rewards directly related to performance. Produced at a rate 25 % higher regular pay = employee gets 1. 25 +80 people are not mentally linked to number of units produced quality isn"t low etc. Stock option: the right to purchase a state number of shared of a company sotck at todays price at some time in the future. Supervisors tend to minimize differences in employee performance when computing merit raises (everyone gets a raises)

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