Recognizing employee contributions with pay
6 important questions on Recognizing employee contributions with pay
Reasons for adopting a variable payment
·Enhance organizational results and reward employees financially
·Rewards employees an recognize their different levels of performance
·Achieve HR objectives
How to reward the incentive based on performance
·Performance should be measurable
·Employees must understand what they have to do to be rewarded
Group team incentives may work if:
·individual performance cannot be identified (individual performance)
·management wants teamwork (management support)
·the reward system is fair (reward fairness)
·employees have input into incentive design (employee input)
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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Types of group incentives
- system of sharing with employees
- teamsharing or goalsharing
· Benefit of group results
- Group output, cost savings, quality improvement
Examples of organization incentives
- profit sharing
- employee stock option
- employee stock ownership plan
- gain sharing
Employee stock option
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
