factors for a successful incentive plan

Discussion Questions

1.    Working individually or in groups, identify the factors for a successful incentive plan.

2.    Contrast the differences between straight piecework, differential piece rate, and standard hour plans.  Explain where each plan might best be used.

3.    A frequently heard complaint about merit raises is that they do little to increase employee effort.  What are the causes of this belief?  Suggest ways in which the motivating value of merit raises may be increased.

4.    Because of competitive forces within your industry, you have decided to implement a profit sharing plan for your employees.  Discuss the advantages of profit sharing and identify specific characteristics that will ensure success for your plan.

 

Case Study 1

1.    Are CEOs and key corporate executives worth the large pay packages they receive? Explain.

2.    Do you agree with Peter Drucker that corporate executives should receive compensation packages no larger than a certain percentage of the pay of hourly workers? Explain.

3.    Will the Dodd-Frank Wall Street Reform and Consumer Protection Act giving shareholders the right to vote on executive pay influence the size of these packages in the future?  Explain.

Case Study 2

1.    Do results from the survey illustrate typical complaints about teams and specifically about team incentive rewards?  Explain.

2.    If appropriate, what changes would you recommend to improve the incentive reward program?  Be specific.

3.    Would management have benefited from employee involvement in the initial design and implementation of the program?  Explain.

Get a 10 % discount on an order above $ 50
Use the following coupon code :
TOPCLASS