11 May WHAT ORGANIZATION WIDE INCENTIVE PLANS ARE USED BY OTHER MANUFACTURING FIRMS?
primary advantage of piecework plans? A) powerful incentive to workersB) encourages worker flexibilityC) workers earn efficiency bonusesD) firms save on overtime wagesE) entices independent contractors 25) Which of the following terms refers
to any salary increase the firm awards to an individual employee based on his
or her individual performance?A) competency-based payB) variable payC) merit pay D) base payE) piecework 26) How does merit pay differ from a
bonus?A) Merit pay becomes part of an
employee’s base pay, but a bonus does not.B) A bonus becomes part of an employee’s
base pay, but merit pay does not.C) Merit pay is linked to individual
performance, while a bonus is linked to profits.D) A bonus is linked to individual
performance, while merit pay is linked to profits.E) Merit pay is limited to a single,
lump payment, and a bonus is spread out over a year. 27) Studies indicate that in order for
merit pay to be most effective, it should be linked to ________. A) company profitsB) annual base salary C) employee overtime D) employee performanceE) awards and bonuses 28) Ryobi is a large, international
power tool manufacturer that develops affordable, high-quality products, such
as drills, circular saws, and routers, for both homeowners and craftspeople. As
the company continues to grow, its top executives want to ensure that employees
are appropriately paid for their performance and that financial incentives are
both fair and effective. Currently, the firm provides merit raises based on
performance appraisals; however, executives are considering changing the
current incentive plan.Which of the following, if true,
supports the argument that Ryobi should eliminate all merit raises?A) Performance appraisals at Ryobi occur
annually, and standards vary from manager to manager.B) Ryobi employees have the option of
accepting lump-sum raises or traditional merit raises.C) Motivation among Ryobi engineers has
been improved through social recognition programs.D) Ryobi recently began using an
enterprise incentive management system to automate compensation.E) The commission percentage for Ryobi
sales people is based on the ability to meet monthly quotas. 29) Ryobi is a large, international
power tool manufacturer that develops affordable, high-quality products, such as drills, circular saws, and routers,
for both homeowners and craftspeople. As the company continues to grow, its top
executives want to ensure that employees are appropriately paid for their
performance and that financial incentives are both fair and effective.
Currently, the firm provides merit raises based on performance appraisals;
however, executives are considering changing the current incentive plan.Which of the following, if true,
undermines the argument that Ryobi should discontinue all merit raises?A) Ryobi employees have expressed that
they would prefer stock options to merit raises.B) Ryobi’s top competitor is considered
a high-performance work system within the industry. C) Ryobi managers have not received
significant training about conducting performance appraisals.D) Ryobi managers have noticed
significant productivity improvements among employees who receive merit raises.
E) Ryobi’s top executives receive a
combination of base salary and stock options to encourage them to focus on the
firm’s strategic goals. 30) Ryobi is a large, international
power tool manufacturer that develops affordable, high-quality products, such as drills, circular saws, and routers,
for both homeowners and craftspeople. As the company continues to grow, its top
executives want to ensure that employees are appropriately paid for their
performance and that financial incentives are both fair and effective.
Currently, the firm provides merit raises based on performance appraisals;
however, executives are considering changing the current incentive plan.Which of the following questions is most
relevant to the decision by Ryobi executives to discontinue all merit raises?A) What are the guidelines for
implementing a gainsharing plan?B) What is the link between merit pay
and motivation according to Deci?C) What type of merit raises are
effective for high-performing managers?D) What organization wide incentive
plans are used by other manufacturing firms?E) What is the connection between merit
pay increases and employee productivity?
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