HRM Reward part2

The term ‘... ... ’ is used to describe any formal pay scheme that provides for payments on top of the base rate, which are linked to the performance, competency, contribution or skill of people.

This type of remuneration is designed to provide direct motivation. They tell people how much money they will get in the future if they perform well – ‘Do this and you will get that.’ A shop floor payment-by-results scheme or a sales representative’s commission system are examples of them.

• Financial rewards

• Financial incentives

• Base pay

• Promotion

... is a pay structure that compensates employees based on their knowledge, and experience rather than their job title or position.

• Contribution-related pay

• Performance-related pay

• Competency-based pay

• Skill-based pay

...is a process for making pay decisions based on assessments of both the outcomes of the work carried out by individuals and the inputs in terms of levels of competency that have influenced these outcomes.

• Contribution-related pay

• Performance-related pay

• Competency-based pay

• Skill-based pay

... provides fixed increments that are usually paid annually to people on the basis of continued service either in a job or a grade in a pay spine structure

• Contribution-related pay

• Performance-related pay

• Competency-based pay

• Service-related pay

...-... pay provides rewards to teams or groups of employees carrying out similar and related work that is linked to the performance of the team.

Contribution-pay model : Paying for past performance+ payinf for ... ... = Paying for contributuion.

... ... -is the payment to eligible employees of sums in the form of cash or shares related to the profits of the business

... is a formula-based company- or factory-wide bonus plan that provides for employees to share in the financial gains resulting from increases in added value or another measure of productivity.

Reinforcement theory of motivation was proposed by ... .

• Skinner

• Locke

• Vroom

• Herzberg