chapter 4 incentive pay

Question 1

Incentive pay

Answer 1

• Add incentive pay on top of base pay on a nonrecurring basis. It changes every time based on incentive and based on formula

Question 2

Incentive pay categories

Answer 2

• individual
  *group
  *company wide

Question 3

piecework plans

Answer 3

reward workers for every item produced
over a designated production standard. For a piece you receive compensation

Question 4

management incentive plans

Answer 4

award bonuses to
managers when they meet or exceed objectives based on
sales, profit, production, or other measure

Question 5

behavioral encouragement plans

Answer 5

employees receive
payments for specific behavioral accomplishments for their
division

Question 6

referral plans

Answer 6

existing employees can refer friends for jobs. The existing employee receives a bonus. Employees receive bonuses for recruitment of highly qualified employees

Question 7

Spot bonuses

Answer 7

employees receive small monetary gifts for
outstanding work or effort during a reasonably short time
period

Question 8

Signing bonuses :

Answer 8

monetary awards given to promote
recruitment and job offer acceptance

Question 9

Types of individual incentive plans

Answer 9

• piecework
  *management incentive
  *behavioral encouragement plan
  *referral plans
  *spot bonuses
  *signing bonuses

Question 10

group incentive plans

Answer 10

• work process teams
  *project teams
• parallel teams

Question 11

work process teams

Answer 11

refer to organizational units that perform the work of the organization on an ongoing basis like hr department and marketing department

Question 12

project teams

Answer 12

consist of a group of people assigned to. complete a one-time project ex engineers on a building

Question 13

parallel teams (task forces)

Answer 13

include employees assigned to work on a specific task in addition to normal work duties