Reward system - Collective Bargaining. Flashcards
Provided by companies as additional payments and benefits. A form of reward system and are given to motivate employees.
Reward Systems
Bonus based on performance
Pay for performance scheme
Based on knowledge, skills, and abilities that employees have
Pay for competency
Combination of employee competencies and output levels
Pay for contribution
Payment depending on the skills acquired by the employee. Require worker to undergo training and gain certification for certain skills or competencies
Pay for skills
Payment based on continued service
Pay for service
Types of Contingent Pay
- Pay for performance scheme
- Pay for competency
- Pay for contribution
- Pay for skills
- Pay for service
Related job or assigned work on a certain project
Team-based pay
Basis of achievement of organizing goals.
Organization-wide pay
Based on a bonus plan where employees are encouraged to fully contribute to the company’s performance.
Gainsharing
A scheme where employees share in the profits of the company. Can be in the form of cash payments or shares of stocks
Profit sharing
Types of Group Contingent Pay
- Team-based pay
- Organization-wide pay
Gainsharing
Profit Sharing
The process where the employee performance is documented and evaluated. Also known as performance review/evaluation
Performance Appraisal
Performance evaluation provides relevant information about the specific training needs of employees
Needs assessment
Helps management decide who will be promoted by providing proof or meritorious performance
Employee Movements
Performance appraisal provides strong proof for merit increases.
Basis for merit increase
Questions regarding; termination and the appraisal provides basis justifying the action.
Legal Concerns
Series of performance appraisals that track employee growth
Development
Appraisal is a good venue for discussion about performance and other issues between employees.
Channel of Communication
Performance evaluation is one of the best ways to keep employees motivated. Boost employee morale; encourage good impressions; outstanding performance.
Source of Motivation
Types of Performance Appraisal
- Needs Assessment
- Employee Movements
- Basis for Merit Increase
- Legal Concerns
- Development
- Channel of Communication
- Source of Motivation
Performance Appraisal Method
- Measure the output of volume of sales or number of orders
- Performance test evaluates an employee with a standard set of conditions.
- Judgmental methos such as ranking and rating techniques.
A method where employee are compared to another employee.
Ranking Technique
An example of ranking technique and it evaluates specific employee behaviors.
BARS (Behaviorally Anchored Rating Scale)
Employee Movements
- Vertical: lower to higher position
- Horizontal: transfer to another dept. (same responsibilities)
Movement to a higher position
Promotion
Movement to a lower position
Demotion
Movement to another position but with same level of scope
Transfer
Types of Employee Movements
- Vertical Movement
- Horizontal Movement
other types;
- Promotion
- Demotion
- Transfer
Number of years in service
Tenure
Refers to excellent or outstanding performance.
Meritorious Performance
Criteria for Promotion
- Tenure
- Meritorious Performance
Voluntary decision to leave the organization.
Resignation
Terminated by the company due to business reasons
Separation with authorized cause
Terminated due to a serious offense.
Separation with just cause
A monetary package to enable employees to maintain standard of living during unemployment period.
Severance Package
End of employment due to old age.
Retirement
Separation
- Resignation
- Separation with authorized cause
- Separation with just cause
- Severance Package
- Retirement
Relationship between employees and employers.
Employee Relations
Elements considered in establishing good relations
- Drive for commitment
- Harmonization of terms and conditions of employment
- Emphasis on mutuality
- Policies and practices for communication
Process of negotiating terms of employment between employer and employees. Includes conditions of employment, workplace rules, holidays, leave, etc.
Collective Bargaining
