Exam (elaborations)
Managing Human Resources Chapter 10 Exam Q’s and A’s
Managing Human Resources Chapter 10 Exam Q’s and A’s
[Show more]
Content preview
Managing Human Resources Chapter10 Exam Q’s and A’s
Which of these is true of incentive plans? - -Incentive payouts are a means
to reward or attract top performers when salary budgets are low.
Also, incentive payouts are variable costs linked to the achievement of
results,
incentive compensation is directly related to operating performance,
and incentive plans sometimes fail to satisfy employee expectations for pay
gains.
- *When measuring performance for individual pay incentives, a manager
should: - -When measuring performance for individual pay incentives,
a manager should measure things that are quantifiable and simple
and measure work that is independent of other's contribution.
A manager should not measure based on who he likes or dislikes or based on
personalities.
- When measuring performance for group pay incentives, a manager should:
- -When measuring performance for group pay incentives, a manager should
measure when work is group interdependent, consider the contributions of
other teams, and only measure when teams have a mechanism for
disciplining their slackers.
- Which of these accurately describes an important recommendation for
administering incentive plans? - -Annual salary budgets must be large
enough to reward and reinforce exceptional performance.
When administering incentive plans,
allowing them to become pay guarantees
defeats the motivational intent of the incentive
—poor performance must go unrewarded.
Further, annual salary budgets must be large enough
to reward and reinforce exceptional performance,
and overhead costs associated with plan implementation and administration
must be determined.
, - Which of these is an individual incentive plan wherein employees receive a
certain rate for each unit produced? - -Straight Piecework
- Which is an incentive plan that sets rates based on the completion of a job
in a predetermined standard time? - -Standard Hour Plan
- What are 4 types of group incentive plans? - -1. Scanlon Plan,
2. Team Compensation,
3. Improshare Program,
and
4. Gainsharing Plans
(STIG)
- Under which rate do employees whose production exceeds the standard
output receive a higher rate for all of their work than the rate paid to those
who do not exceed the standard? - -Differential Piece Rate
- What is 3 type of Enterprise Plans? - -1. Stock Options
2. Employee Stock Ownership Plans (ESOPs)
3. Profit Sharing
(SEP)
- What are 8 types of individual incentive plans? - -1. Standard hour plan
2. Incentive awards
3. Executive incentive plans
4. Professional employee incentive plans
5. Piecework
6. Bonus Merit Pay
7. Lump Sum Merit Pay
8. Sales incentives
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £10.10. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62890 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now