MHR 523 Chapter 12: Human Resources Management Chapter 12

71 views4 pages

Document Summary

Variable pay: any plan that ties pay to productivity or profitability. Top performers must get top pay in order to secure their commitment to the organization. Piecework: a system of pay based on the number of items processed be each individual worker in a unit of time, such as items per hour or items per day. 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. Disadvantages unsavoury reputation; attempt to revise piecework standards, workers become resistant. Standard hour plan: a plan by which a worker is paid a basic hourly rate plus an extra percentage of his or her base rate for production exceeding the standard per hour or per day. It is similar to piecework payment but is based on a percentage premium.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents

Related Questions