Human Resource Management Study Set 6
Quiz 11: Strategic Reward Management
In Order to More Closely Link Pay to Performance and Increase
In order to more closely link pay to performance and increase the variability of pay discretionary bonuses, profit sharing schemes and incentives should be used to reward employees.
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A wage is pay that is paid consistently from period to period and a salary refers to hourly, daily or weekly payment based on the time worked.
Group incentives often take the form of rewarding employees for exceeding productivity targets or deducting a percentage of performance loading if targets are not met.
The effectiveness of the performance pay process is closely linked to the effectiveness of the performance management process.
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