Motivation 2_10_11 post

Merit pay an increase to base salary is made in

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Unformatted text preview: erit Pay An increase to base salary is made in accordance with An performance performance evaluation ratings. Lump-Sum Bonuses A bonus is received for meeting individual goals but no change is made to base salary. The potential bonus represents “at risk” pay that must be re-earned each year. Base salary may be lower in cases in which potential bonuses may be large. Recognition Awards Tangible awards (gift cards, merchandise, trips, special events, time off, plaques) or intangible awards (praise) are given on an impromptu basis to recognize achievement. 20 Compensation Plan Elements, Cont’d Compensation ELEMENT DESCRIPTION Unit-Focused Gainsharing A bonus is received for meeting unit goals (department goals, plant goals, business unit goals) for criteria controllable by employees (labor costs, use of materials, quality). No...
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This note was uploaded on 04/04/2012 for the course MGM 330 taught by Professor Christinejackson during the Spring '11 term at Purdue.

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