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Week11 - Week 11 Prescribed reading Dessler et al(2002...

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13 & 14-1 BUS 381 Incentives and Benefits Week 11 Prescribed reading: Dessler et al (2002), Chapters 13 & 14 Learning Objectives Discuss the various types of incentive plans, including when and how to use them. Discuss the use of incentives for managers, executives, salespeople, and professionals. Discuss the changing role of employee benefits. Describe the advantages and disadvantages of flexible benefit programs.
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13 & 14-2 Merit Pay Traditional Merit Pay Characteristics -merit pay granted as higher base salary (a raise) -usually based on individual performance only New Merit Pay Characteristics - merit pay awarded as lump sum once per year -merit pay tied to both individual and organizational performance
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13 & 14-3 Money and Motivation: Background and Trends Variable Pay -plan that links pay to productivity or profitability (for individuals and/or groups)
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13 & 14-4 Incentives for Operations Employees Piecework plans – straight; guaranteed Team or group incentive plan When to use these plans?
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