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Exam 10: Pay-For-Performance Plans

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Question 21

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TreeDen Corp.experiences an increase in employee turnover rate.Upon investigating,it discovers that employees are dissatisfied with the company's pay.Employees cannot see a direct link between their performance and their pay.They are also unhappy about having to pay out of their pockets to obtain grants.In this case,TreeDen is most likely using a _____.

A) stock ownership plan
B) cash profit sharing plan
C) gain-sharing plan
D) team incentive plan

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Question 22

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What is the difference between success-sharing plans and risk-sharing plans?

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In success-sharing plans,employee base w...

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Question 23

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The authors argue that for merit pay to live up to its potential,all of the following should be done EXCEPT _____.

If you had repair work done on your car,the shop most likely used the _____ plan to pay the mechanic.

An advantage of group incentives is that it leads to increased line-of-sight.

Surveys show the most popular type of variable pay plans are _____.

Which of the following does NOT provide for incentives based on standards that are expressed in terms of time period per unit of production?

In gain-sharing plan formulas,_____ are in the numerator and _____ are in the denominator.

All incentive plans share an established standard against which worker performance is compared to determine the magnitude of the incentive pay.

An incentive system with three piecework rates is the _____ plan.

All of the following support the use of individual incentives EXCEPT:

Standard hour plans are better for nonrepetitive jobs requiring numerous skills for completion.

Discuss SVOP.

Maxwell Construction Corp.employs a lot of uneducated laborers.The company wants to introduce a variable-pay plan that is easy to understand and does not cost much to administer.Which of the following variable-pay plans is Maxwell most likely to introduce?

Menthorp Inc.wants to design a variable-pay plan that fosters teamwork and business knowledge of its employees.In order to ensure maximum motivation,Menthorp wants its variable-pay plan to show a clear performance-reward link.Which of the following plans is most suitable for Menthorp?

A _____ plan requires division of a task into simple actions and determination of the time required by an average skilled worker to complete each action.

A fast and efficient worker would earn more money under a Rowan plan than under a Halsey 50-50.

Employees working under individual incentive plans tend to resist the introduction of new technology.

Performance plans typically feature corporate performance objectives for a time three years in the future.

Components identified as vital to the success of both Scanlon and Rucker plans are: