CH10

Question 1

Performance Threshold

Answer 1

Minimum performance standard to qualify for incentives.

Question 2

Total Rewards

Answer 2

Base Pay + Incentives + Benefits + Non-cash Rewards.

Question 3

Individual Incentives

Answer 3

Piecework

Question 4

Group Incentives

Answer 4

Gainsharing

Question 5

Enterprise Incentives

Answer 5

Profit Sharing

Question 6

Piecework Plan

Answer 6

Pay based on units produced (per item pay).

Question 7

Differential Piece Rate

Answer 7

Higher pay rate after standard output exceeded.

Question 8

Standard Hour Plan

Answer 8

Pay based on completing a job within a set time.

Question 9

Bonus

Answer 9

Extra payment beyond base salary.

Question 10

Merit Pay

Answer 10

Permanent salary increase based on performance.

Question 11

Lump-Sum Merit

Answer 11

One-time bonus not added to base salary.

Question 12

Spot Bonus

Answer 12

Unplanned reward for special effort.

Question 13

Gainsharing

Answer 13

Reward based on productivity improvements/cost savings.

Question 14

Profit Sharing

Answer 14

Distribute company profits to employees.

Question 15

ESOP

Answer 15

Employees gain company stock ownership over time.

Question 16

Executive Pay Package

Answer 16

5 components: Base Salary