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Chapter 6

Chapter 6 Notes

3 Pages

Management (MGH)
Course Code

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Chapter 6 Money as a Motivator Piece-rate link pay to performance on production jobs Ex. pay a certain sum of money for each complete unit of production completed Wage incentive plans various schemes that link pay to performance on production jobs Wage incentives problems 1) lowered quality 2) differential opportunity raw materials or the quality of production equipment 3) reduced cooperation neglect common tasks like house-keeping 4) incompatible job design difficult t indentify individual productivity (i.e. assembly line work or where teams are large) 5) restriction of productivity what constitutes a fair days work Merit Pay Plans link pay to performance on white-collar jobs; ineffective - evaluate the performance of employees Merit pay Plans Problems 1) low discrimination unable or unwilling to discriminate between good and poor performers 2) small increases spread out over an entire year Lump sum bonus awarded in single payment and not built into base pay 3) pay secrecy cant as
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