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Author Question: Identify and explain different forms of individual pay-for-performance plans. What will be an ... (Read 25 times)

piesebel

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on: Jul 7, 2018
Identify and explain different forms of individual pay-for-performance plans.
 
  What will be an ideal response?

Question 2

What are some alternatives to individually-based pay-for-performance?
 
  What will be an ideal response?


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l.stuut

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Reply #1 on: Jul 7, 2018
Answer to Question 1

- Piece rate: Employee earns all or part of a wage based on number of units produced.
- Commission: Salesperson earns all or part of a wage based on number of units sold.

Merit pay: Employee earns raise to base wage based on performance evaluation.

Bonus: Employee earns extra payment based on performance.

Answer to Question 2

In team-based pay-for-performance plans, teams can share a performance bonus equally or allocate to individual members based on an evaluation of their contribution. Team-based bonuses enhance team performance, although the effect is relatively weak. A
caveat is in order, however. Team-level bonuses can hurt collaboration among and between teams.


piesebel

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Reply 2 on: Jul 7, 2018
Thanks for the timely response, appreciate it

kthug

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Reply 3 on: Yesterday
Wow, this really help

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