HR Study Guide CH12

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  1. variable pay
    Compensation linked to individual, group/team, and/or organizational performance.
  2. Categories of Variable Pay Plans
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  3. Successful Variable Pay Plans
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  4. Why Variable Pay Plans Fail
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  5. Developing Successful Incentive Plans
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  6. Categories of Variable Pay Plans
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  7. straight piece-rate system
    Per system in which wages are determined by multiplying the number of units produced by the piece rate for one unit.
  8. Purposes of Special Incentives
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  9. Design of Group/Team Incentive Plans
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  10. Conditions for Successful Group/Team Incentives
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  11. bonus
    One-time payment that does not become part of the employee's base pay.
  12. gainsharing
    System of sharing with employees greater-than-expected gains in profits and/or productivity.
  13. profit sharing
    System to distribute a portion of the profits of an organization to employees.
  14. stock option plan
    Plan that gives employees the right to purchase a fixed number of shares of company stock at a specified price for a limited period of time.
  15. employee stock ownership plan (ESOP)
    Plan designed to give employees significant stock ownership in their employers.
  16. commission
    Compensation computed as a percentage of sales in units or dollars.
  17. draw
    Amount advanced against and repaid from, future commissions earned by the employee.
  18. perquisites (perks)
    Special benefits-usually noncash items-for executives.
  19. compensation committee
    Subgroup of the board of directors that is composed of directors who are not officers of the firm.
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HR Study Guide CH12
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