Exam 4: Incentive Pay

Stock ________ describe an employee's right to purchase company stock.

The Improshare bonus is based on a ________ ratio formula.

Which of the following is true about the level of risk involved with incentive pay?

Individual incentive plans help to promote the relationship between pay and ________.

This formula for calculating profit sharing awards gives the employees a higher percentage of the profits as the profits increase.

The concept that a hard working employee is likely to stay at an incentive pay position is better known as which of the following effects?

How do traditional pay methods differ from incentive pay methods?

Which of the following performance measures corresponds to individual/ group/ companywide incentive plans respectively?

Which of the following group incentive system was designed to provide employees with financial incentives for increasing customer satisfaction,increasing productivity,lowering costs,or improving safety?

XYZ Manufacturing Co.uses a gain sharing plan that gives incentives to employees to finish products rather than to incentivize dollar savings.Therefore,this company measures productivity as the ratio of standard labor hours and actual labor hours.What kind of gain sharing program does XYZ Manufacturing Co.use?

Which gain sharing plan bases incentives on the ratio between labor costs and sales value of production (SVOP)?

In a "pay at ________" profit sharing compensation package,base pay is set below the average for competing employers,and employees' pay can be very meager or very large compared to a similar position elsewhere.

John is a design engineer working at an auto manufacturer research and development department.In addition to his normal duties,he is assigned to a team of other engineers developing a highly automated assembly line for the new model of a passenger car.What type of team is John assigned to?

Briefly describe the three categories of incentive pay plans and give an example of each.

Which type of individual incentive plan requires the achievement of multiple,complex objectives without compromising the quality and quantity of output that is generated by employees?

These profit sharing plans award cash to employees on a quarterly or annual basis as part of their regular compensation.

The general rule of thumb is that short-term company goals last less than how long?

Gunther Rohn was rewarded for making a suggestion that saved Ewe and Eye Electronics thousands of dollars.Which type of incentive compensation approach might have worked best?

________ teams consist of a group of people assigned to complete a one-time project.

This formula for determining the amount available for profit sharing uses a specific percentage of annual profits contingent upon the successful attainment of a specified profit goal.