Textbook Notes (368,214)
Canada (161,710)
Business (2,391)
BU288 (266)
Ping Zhang (73)
Chapter 6

Chapter 6 Comparison.docx

2 Pages
56 Views
Unlock Document

Department
Business
Course
BU288
Professor
Ping Zhang
Semester
Fall

Description
Category Type Advantages Disadvantages 1. Money Wage Incentive - can increase worker productivity - lowered quality – can increases productivity Plans - attractive to workers for motivation at the expense of quality - differential opportunity – workers may be given a higher opportunity for incentives than others - reduced cooperation - incompatible job design - restriction of productivity – may fear that if they produced at a high level, pay rate will fall Merit Pay - can link pay to performance on white-collar jobs - low discrimination – managers may not be - performance reviews that lead to some merit pay able to tell good performers apart from poor to be awarded can stimulate performance performers - good for individuals who see a strong link between - small increases – merit increases could be rewards and performance too small to be effective motivators - pay secrecy – may damage the motivational impact of a well-designed merit plan Profit Sharing - sense of ownership - many factors beyond the control of - aligns employee goals with organizational goals employees can affect profits - only pays when the organization makes a profit - difficult for employees to see the impact of their actions on organization profits Employee Stock - creates a sense of legal and psychological - hard for employees to see connection Ownership ownership for employees between their efforts and value of the stock - aligns employee’s goals/interests with those of the- lose their motivational potential in a weak organization economy Gain Sharing - aligns organization and employee goals - bonuses might be paid even when the - encourages teamwork and cooperative behaviour organization doesn’t make a profit - employees might neglect objectives that aren’t included in the formula 2.Management Goal Setting - can facilitate goal establishment, goal - elaborate, difficult, time-consuming process
More Less

Related notes for BU288

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit