Chapter 10 - MNA2100 - Chapter 10, Section 7: Linking...

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Chapter 10, Section 7: Linking Performance and Rewards (p. 312-317) 3 Types of Rewards: Wages Incentive Programs Benefit Programs Wages: Fixed rates of pay Incentive Programs: Production Incentives: Money for how much you produce Sales Incentives: Tied with sales dollars generated Benefit Programs: Life, Health, and accident insurance; sick leave; worker’s compensation; pension plans; and unemployment insurance. There is a link between people’s performance and their rewards. 79% of the high-performing companies use merit increases compared to 58% for other firms Non Traditional Rewards: Profit sharing, bonuses, individual incentives, gain sharing programs that divide cost reductions among all members of the organization, small-group incentives, payment for knowledge, the granting of earned time off in lieu of monetary reward, stock options, and employee stock purchase plans (ESPP). Employee stock options are underutilized
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Chapter 10 - MNA2100 - Chapter 10, Section 7: Linking...

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