Performance and financial incentives, HR Management

Performance and Financial Incentives

The several incentive plans have benefited both workers & employers, as they outcome in higher wages, lower labour turnover & better industrial relations & morale. Merit pay is a reward depends on how good an employee has done the assigned job. The payout is based on individual employee's performance. Performance is evaluated in a subjective pattern. Profit sharing is a plan whereby employers undertake to pay a specific portion of total profits to their employees on fulfilment with sure service conditions and qualifications. Under employee stock option strategy, the suitable employees are allotted company's shares below the market cost. The term stock option implies the right of suitable employee to buy a certain amount of stock in future at an agreed cost. The eligibility criteria might include contribution to the department/ division where the employee works, length of service, etc.

Posted Date: 11/17/2012 12:36:12 AM | Location : United States







Related Discussions:- Performance and financial incentives, Assignment Help, Ask Question on Performance and financial incentives, Get Answer, Expert's Help, Performance and financial incentives Discussions

Write discussion on Performance and financial incentives
Your posts are moderated
Related Questions
Question 1: "Job Analysis (JA) is a procedure by which pertinent information is obtained about a job, i.e. it is a detailed and systematic study of information relating to the

Respected sir I am writing this letter to my friend.He has been working in an organization, and in probation . Due to some emergency reasons he had to go to his country. company

Question 1: (a) Show the importance of conducting a job analysis in a modern organization. (b) Explain and evaluate the different types of methods organizations use to selec

Disadvantages of job enlargement: 1. Job enlargement tends to be a costly affair. Workers may require additional training for their enlarged jobs. Moreover, if the Job enlarge

Q. What is Judicial approach to discipline? The industrial employment (standing orders) act was passed in 1946 with a view to improve the industrial relations climate. The act

Question 1: Describe how the common trends of HRM reforms undertaken by Governments of developed countries have: (a) reduced the gap between public and private HRM; (b) p

QUESTION 1 It is generally agreed that human beings adopt different behaviours in diverse settings. Identify and discuss using examples, the factors which can influence the beh

Q. Purpose of  Motivating personnel? Compensation management aims at motivating personnel for higher productivity. Monetary compensation has its own limitations in motivating p

What are the HR Practices and HR models of an organisation

Question 1: "While work and family have changed, the private and public policies and practices governing employment remain mired in the past, modeled on the image of an ideal w