ORG MAN QUIZ QUIZ Flashcards
- Additional payments and benefits on top of the
employees’ basic salaries - Given to motivate employees as they perform
their tasks
Reward Systems
Types of Contingent Pay
Pay for Performance Scheme
Pay for Competency
Pay for Contribution
Pay for Skills
Pay for Service
Types of Reward System
Contingent Pay
Group Contingent Pay
Pay Based on performance
Pay for Performance Scheme
Pay Based on the knowledge, skills, and abilities
employees have that they apply on the job
Pay for Competency
pay Focuses on the combination of employee
competencies and output levels
Pay for Contribution
pay Depends on the skills acquired by the
employee
- Requires a worker to undergo training and gain
certification for certain skills or competencies
Pay for Skills
Pay Based on continued service in a job
Pay for Service
Types of Group Contingent Pay
Team-Based Pay
Organization-Wide Pay
Related job or assigned to work on a certain
project
Team-Based Pay
Given to employees based on achievement of organizing goals
Organization-Wide Pay
based on a bonus plan where
employees are encouraged to fully contribute
to the company’s performance (e.g. when its
sales revenues surpass the sales targets)
Gainsharing
a scheme where employees
share in the profits of the company through cash payments or shares of stocks
Profit Sharing
Process where the employee performance is documented and evaluated
Performance Appraisal
Provides relevant information about the
specific training needs of employees
Needs Assessment
Helps management decide who will be
promoted by providing proof of meritorious performance
Employee Movements
Provides strong proof for merit increases
Basis for Merit Increase