人力资源管理ch9 pay for performance and incentive & bene

Chapter9PayforPerformanceandFinancialIncentives&BenefitsandServicesChapterOutlineMoneyandmotivationPerformanceandpayTypesofincentiveplansIncentivesforoperationsemployeesPieceworkplansTeamorgroupvariablepayincentiveplansIncentivesformanagersandexecutivesIncentivesforsalespeopleIncentivesforotherprofessionalsandnon-managerialemployeesBenefitssupplementalpaybenefits(suchassickleaveandvacationpay)InsurancebenefitsRetirementbenefitsEmployeeservicesFlexiblebenefitsprograms1.PerformanceandPayCompetition,shareholdervalue,andturbulenceCharacterizebusinesstoday.The1990swereatimeofturbulenceforbusinessesasemployersfacedcorporaterestructuring,seasonallayoffsandreductionsinforce.Saleorspinoffofassets.Businessesneedanedgeandmotivatedemployeesarethatedgeinintenselycompetitivemarkets.Question:Whatdoyouthinkthatedgeis?Payattentiononestudyshowedthatbusinessturbulencewasoffsetontomanagersbyusingvariablepay.2.TypesofIncentivePlansIndividualIndividualincentiveplansprovideincomeoverandabovebasesalarytoindividualemployeeswhomeetspecificindividualperformancestandards.GroupGroupincentiveprogramspayallmemberswhenthegrouporteamcollectivelymeetsitsperformancestandard.ProfitsharingProfitsharingplansaregenerallyorganization-wide,andprovideallormostemployeeswithashareofthecompany’sprofitsinaspecifiedperiod.Planscanalsobeclassifiedbyemployeegroup—suchasplansforoperatingemployees,salesemployees,ormanagers.InternalequityExternalequityEmployeeequityAdministrationConceptsIncentiveTechniquesPlanning,Budgeting,Monitoring,EvaluatingJobAnalysisJobDescriptionJobEvaluationJobGradesMarketDefinitionsSalarySurveysPolicyLinesPayStructuresSeniorityIncreasesPerformanceEvaluationIncreaseGuidelinesObjectivesRoleclarityandaccountability.Facilitatesadministrationandperformancemanagement.Competitivewagepoliciesandpractices.Influenceemployees’workattitudesandbehaviour.Attracttalents.Retaintalents.Motivateemployees.Complywithregulations.Consistencyinpolicyadministration.TheStrategicIncentiveModel(1)IncentivesforOperationsEmployeesPieceworkAsystemofpaybasedonthenumberofitemsprocessedbyeachindividualworkerinaunitoftime,suchasitemsperhouroritemsperday.StraightpieceworkAnincentiveplaninwhichapersonispaidasumforeachitemheorshemakesorsells,withastrictproportionalitybetweenresultsandrewards.Guaranteedpiecework.Thereisaguaranteedminimumwage.StandardhourplanAplanbywhichaworkerispaidabasichourlyratebutispaidanextrapercentageofhisorherbaserateforproductionexceedingthestandardperhourorperday.Similartopieceworkpaymentbutbasedonapercentpremium.ExampleStandardhourplan20units/hourtooneworker,i.e.1unit/3minutes.160units/oneday(8hours).standardpayrate$8/hour.Oneemployeeproduced200units/oneday,hewillreceive8*8*(200/160)=64*1.25IncentivesforOperationsEmployeesTeamorgroupincentiveplansAplaninwhichaproductionstandardissetforaspecificworkgroup,anditsmembersarepaidincentivesifthegroupexceedstheproductionstandard.(2)IncentivesforManagersandExecutivesManagersplayacentralroleininfluencingdivisionalandcorporateprofitability,andmostfirmsthereforeputconsiderablethoughtintohowtorewardthem.Mostmanagersgetshort-termbonusesandlong-termincentivesinadditiontosalary.Forfirmsofferingshort-termincentiveplans,virtuallyall—96%—providethoseincentivesincash.Forthoseofferinglong-termincentiveplans,about48%offerstockoptions,whichareintendedtomotivateandrewardmanagementforlong-termcorporategrowth,prosperity,andshareholdervalue.IncentivesforManagersandExecutives(Cont.)15%15%10%60%SalaryShorttermLongtermBenefits33%38%21%8%SalaryShorttermLongtermBenefitsIncentivesbreakdownforamaturecompanyIncentivesbreakdownforastartupcompanyLongTermIncentivesLong-termincentivesencourageexecutivestostaywiththecompanybylettingthemaccumulatecapital(usuallyoptionstobuycompanystock)thatcanonlybecashedinafteracertainnumberofyears—“goldenhandcuffs,”assomecallthem.StockoptionsAstockoptionistherighttopurchaseastatednumberofsharesofacompanystockatapresetpriceatsometimeinthefuture.PerformanceplansPerformanceplansare“planswhosepaymentorvalueiscontingenton(视...而定)financialperformancemeasuredagainstobjectivessetatthestartofamulti-yearperiod.”LongtermCashperformanceincentiveplans(3)IncentivesforSalespeople-SalariesSalescompensationcanbesalaried,commission-basedorhybridSalariesmakesensewhenjobisprimarilyprospectingorservicingclients.UsefulwhenrelocatingtonewterritoriesCande-motivateveryproductiveworkersIncentivesforSalespeople-CommissionsPayonlyforresultsEasytounderstandandcomputeFocusonlyonhighvolumeitemsMayignorenon-sellingaspectsPerformanceisaproductofabilityMayresultinhighturnoverResearchInsight–CommissionsOnly“IfIgoonvacation,Ilosemoney.IfI’msick,Ilosemoney.IfI’mnotwillingtodropeverythingonamoment’snoticetoclosewithacustomer,Ilosemoney.Ican’tseehowanyonecouldstayinthisjobforlong.It’slikeatrapeze(吊秋千)actandI’mworkingwithoutanet!”IncentivesforSalespeople-CombinationMostcompaniespaysalespeopleacombinationofsalaryandcommissions,usuallywithasizablesalarycomponent.Earlystudiessugges