Employees e e approaches to rewarding employees

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Unformatted text preview: ployees put a percentage of their salary at risk and then Employees can either lose it, double it, or triple it based on team performance; performance; Personalized “innovator” jackets, shirts, leather folders are Personalized given to employees who make entrepreneurial contributions; given When a new idea is accepted by the firm, the CEO awards When shares of stock to the employee; shares Employees are given $500 to spend on an innovative idea that Employees relates to their job; relates A firm rents out a major sports stadium, fills the stands with firm employees, families and friends, and then has innovation champions run onto the field as their name and achievement appears on the scoreboard; appears E Approaches to Rewarding Employees: Creative Creative (cont.) (cont.) A company sets targets, and then 30% of incremental company earnings above target is placed into a bonus pool which is paid out based on each employee’s performance rating; paid Small cash awards are given to employees who try something Small new and fail---and the best failure of the quarter receives a larger award; larger Some companies have point systems where employees receive Some differing amounts of points for different categories of innovation contributions. Points are redeemable for computers, merchandise, free daycare,...
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This note was uploaded on 10/02/2010 for the course ENTR ENTR 3312 taught by Professor A.lish during the Spring '10 term at University of Houston-Victoria.

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