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COMM 292 (97)
Chapter 5

OB Ch.5 (c) Alyssa Leung

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Department
Commerce
Course
COMM 292
Professor
Tracey Gurton
Semester
Winter

Description
Alyssa LeungSeptember 30 2010Motivation in ActionFROM THEORY TO PRACTICE THE ROLE OF MONEYmoney may be the most commonly used and desired rewardBUT relationships with coworkers boss are equally if not more important CREATING EFFECTIVE REWARD SYSTEMSWhat to Pay Establishing a Pay Structureinternal equity worth of the job to the organizationestablished through job evaluationexternal equity competitiveness of the pay relative to a competitors pay of same industryestablished through pay surveysbest pay system is to consider the internal and external equity worthcompetitionshigher paymore motivated and high performance employeesincrease costsHow to Pay Rewarding Individuals through VariablePay Programsvariablepay programsa portion of the pay is based on the employees PERFORMANCE earnings fluctuateturns FIXED costs into VARIABLE costsreduces expenditure when performance is lowIndividualBased Incentivesgreater emphasis on extrinsic motivation1PieceRate Wages piecerate pay planpaid a fixed sum for each unit of production completedpure piecerate plan paid solely for what is producedmodified base hourly wagepiecerate differential2MeritBased Pay meritbased pa
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