当前位置:首頁 > 講座會議 > 正文内容

Pay for Performance And Financial Incentives

Pay for Performance  And Financial  Incentives

 




ANNOTATED OUTLINE


I. Money and Motivation


Frederick Taylor made three contributions in the late 1800s: standards of output defining a fair day’s work, the scientific management approach, which emphasized improvement of work methods, and the use of financial incentives for those whose output exceeded standards.


A. Linking Performance and Pay – Compensation, shareholder value, and turbulence are factors that characterize business today, and they have produced a renaissance for financial incentive/pay-for-performance plans.


B. Motivation and Incentives – The law of individual differences means that people differ in personality, abilities, values, and needs. They therefore react to different incentives in different ways. Several theorists have contributed relevance to designing incentive plans.


1. Frederick Herzberg – Hygiene-motivator theory divides needs into two factors. Hygiene factors include such things as working conditions, salary, and incentives. Motivators include those factors that make the job more intrinsically motivating, like challenge, feedback, and recognition.


2. Edward Deci – found that extrinsic rewards could at times actually detract from the person’s intrinsic motivation  


3. Victor Vroom – says a person’s motivation to exert some level of effort is a function of three things: the person’s expectancy (in terms of probability) that his or her effort will lead to performance; instrumentality, or the perceived connection (if any) between successful performance and actually obtaining the rewards; and valence, which represents the perceived value the person attaches to the reward.


C. Behavior Modification / Reinforcement Theory – Psychologist B.F. Skinner proposed that to understand behavior, one must understand the consequences of that behavior. Behavior modification means changing behavior through rewards or punishments that are contingent upon performance. 


D.  Employee Incentive and the Law – the employer must comply with the overtime provisions of the Fair Labor Standards Act when designing and administering its incentive plans.  Certain bonuses are excludable from overtime pay calculations.  The problem is that many other types of incentive pay must be included.


*

NOTES Educational Materials to Use





II. Individual Employee Incentive and Recognition Programs


A.  Piecework Plans – Piecework is where you pay the worker a sum (piece rate) for each unit he/she produces.  Straight piecework entails a strict proportionality between results and rewards regardless of output.  With a standard hour plan, the worker gets a premium equal to the percent by which his/her performance exceeds the standard. 

     

B.  Merit Pay As An Incentive – Merit pay or raise is any salary increase the firm awards to an employee based on his/her individual performance.  It is different from a bonus in that it usually becomes part of the employee’s base salary, whereas a bonus is a one-time payment.

 

C. Incentives for Professional Employees – Professional employees are those whose work involves the application of learned knowledge to the solution of the employer’s problems, such as lawyers, doctors, economists, and engineers.  Making incentive pay decisions for professional employees can be challenging because they’re usually paid well anyway.


D. Nonfinancial and Recognition-Based Awards – The term “recognition program” usually refers to formal programs such as employee-of-the-month programs. “Social recognition” programs are more informal manager-employee exchanges, including praise and approval. “Performance feedback” is similar, but provides quantitative or qualitative information on performance in order to change the performance or maintain it. Most employers combine both financial and non-financial incentives to motivate employees.


E. Online and IT-Supported Awards – There are many reasons to use Internet sites to manage awards programs.  The sites can offer a much broader range of products than most employers could catalog and offer themselves.  And perhaps most importantly, the whole process is expedited—it’s much easier to bestow and deliver the awards.


*

NOTES Educational Materials to Use





III. Incentives for Salespeople


A. Salary Plan – offered by some firms. Straight salary makes it simple to switch territories or to reassign salespeople, and it can foster loyalty among the sales staff.  A disadvantage is that it can constrict sales and de-motivate potentially high-performing salespeople.


B.  Commission Plan – pays salespeople for results, and only for results; thus, they tend to attract high-performing salespeople who see that effort clearly leads to rewards. But it may cause them to neglect non-selling duties like servicing small accounts, cultivating dedicated customers, and pushing hard-to-sell items.


C.  Combination Plan – Most companies pay salespeople a combination of salary and commissions, usually with a sizable salary component.  Combination plans give salespeople a floor to their earnings, and still provide an incentive for superior performance. But they can become complicated, and misunderstandings can result.


D.  Maximizing Sales Force Results – Setting effective quotas is an art.  In today’s fast-changing business scene, sales quotas must become more flexible than they have been in the past.  There is a tendency to set commission rates informally, without considering how much each sale must contribute to covering expenses.

      

IV. Incentives for Managers and Executives 


A. Sarbanes-Oxley – affects how employers formulate their executive incentive programs to inject a higher level of responsibilities into executives’ and board members’ decisions. 


B.  Short-Term Incentives:  The Annual Bonus – is aimed at motivating the short-term performance of managers and executives.


     1. Eligibility usually includes both top and lower-level managers.


     2. Fund Size refers to the total amount of bonus money the firm makes available.  A nondeductible formula is where they use a straight percentage (usually of the company’s net income) to create the short-term incentive fund.  A deductible formula assumes that the fund should start to accumulate only after the firm has met a specified level of earnings.


C. Individual Performance – Typically, a target bonus (as well as maximum amount) is set for each eligible position, and the actual award reflects the person’s performance.


D. Long-Term Incentives – are used to inject a long-term perspective into executives’ decisions. 


     1. Stock Options - account for over half of executives’ compensation.  A stock option is the right to purchase a specific number of shares of company stock at a specific price during a specific period of time; the executive thus hopes to profit by exercising his/her option to buy the shares in the future but at today’s price.


     2. Broad-Based Stock Options – Many companies have implemented broad-based stock option plans in which the potential appreciation is relatively modest, but in which all or most employees can participate. With companies now having to show options as an expense when awarded, some firms are now awarding stock rather than options.


3. Other Plans – Stock appreciation rights permit the recipient to exercise the stock option (by buying the stock) or to take any appreciation in the stock price in cash, stock, or some combination of these.  A performance achievement plan awards shares of stock for the achievement of predetermined financial targets. In a restricted stock plan, shares are usually awarded without cost to the executive, but selling the stock is restricted for a specified time period.

       

E. Other Executive Incentives – Companies provide various incentives to persuade executives to remain with the firm, such as golden parachutes and loans.


F. Strategy and the Executive’s Total Rewards Package – Few HR practices have as profound or obvious an impact on strategic success as the company’s long-term incentives.  In creating the compensation package, you should: 1) define the strategic context for the executive compensation program, including the internal and external issues that face the company, and the firm’s business objectives; 2) shape each component of the executive compensation package based on your strategic aims, and then group the components into a balanced plan that makes sense in terms of these aims; 3) create a stock option plan that gives the executive compensation package the special character it needs to meet the unique needs of the executives and the company, and its strategy; 4) check the executive compensation plan for compliance with all legal and regulatory requirements and for tax effectiveness; and 5) install a process for reviewing and evaluating the executive compensation plan whenever a major business change occurs.


V. Team and Organization-Wide Incentive Plans 


A. How to Design Team Incentives – There are three approaches: 


1. Members are paid based on one of three formulas – all members receive the pay (a) earned by the highest producer, (b) earned by the lowest producer, or (c) equal to the average pay earned by the group.


2. Set a production standard based on the final output of the group as a whole.


3. Tie rewards to goals based on some overall standard of group performance.


B. Pros and Cons of Team Incentives – A lot of our work today is organized around teams, so team incentives make sense to encourage cooperation and training.  But exceptionally hard-working employees do not get paid according to their efforts, which may reduce motivation.

When You’re On Your Own, HR for Line Managers and Entrepreneurs:  Incentives Supervisors Can Use – Most supervisors would not want to rely simply on the employer’s incentive plans to motivate his or her employees.  There are a wide variety of things that a supervisor can do.  A few are listed in the textbook.  


*

NOTES Educational Materials to Use




Teaching Tip – Discuss: If college classes were more like business, what kinds of group incentives could be used to improve student performance in the classroom? What kinds of measures would be needed to implement such incentives?


C. Profit-Sharing Plans involve employees receiving a share of the company’s annual profits.  There are several types of profit-sharing plans: cash plans, Lincoln Incentive system, and deferred profit-sharing plans.


D. Scanlon and Other Gainsharing Plans


1.  Scanlon Plan – is an incentive plan developed in 1937 by Joseph Scanlon.  The basic features of the plan include: philosophy of cooperation, identity, competence, involvement system, and sharing of benefits formula.


2. Other Gainsharing Plans are incentive plans that engage many or all employees in a common effort to achieve a company’s productivity objectives, with any resulting cost-savings gains shared among employees and the company.


Implementing a Plan – The basic eight steps are: 1) establish general plan objectives; 2) define specific performance measures; 3) decide on a funding formula; 4) decide on a method for dividing and distributing the employees’ share of the gains; 5) make the disbursement significant enough to get participants’ attention and to motivate their behavior; 6) choose the form of payment; 7) decide how often bonuses are to be paid; and 8) develop the involvement system. 


E. At-Risk Variable Pay Plans – are plans that put some portion of the employee’s weekly pay at risk, subject to the firm meeting its financial goals.


F. Employee Stock Ownership Plans (ESOP) are company-wide plans in which a firm contributes shares of its own stock or cash to purchase the stock to a trust established to purchase shares of the firm’s stock for employees.


*

NOTES Educational Materials to Use





VI. Designing Effective Incentive Plans


A. How to Implement Effective Incentive Plans – Some guidelines to follow to make your plan more effective: use common sense; link the incentive with your strategy; make sure effort and rewards are directly related; make the plan easy for employees to understand; set effective standards; view the standard as a contract with your employees; get employees’ support for the plan; use good measurement systems; emphasize long-term as well as short-term success; take the corporate culture into consideration; and adopt a comprehensive, commitment-oriented approach.


B. Research Insight: The Impact of Financial and Non-Financial Incentives – In a study of the fast-food industry in the Midwest, researchers compared performance over time in stores that had financial and non-financial incentives with those that did not. The results showed that the incentives improved employee and store performance and that the improvements were sustained over time.


C. Incentive Plans in Practice: Nucor – Most companies have several incentive plans.  Nucor, the largest steel producer in the United States has the highest productivity, highest wages, and lowest labor cost per ton of steel in the American steel industry.

*

NOTES Educational Materials to Use





DISCUSSION QUESTIONS


1. Compare and contrast six types of incentive plans.  Various types of incentive plans were presented in the text, including piecework plans, straight and guaranteed plans, standard hour plans, plans for salespersons (commissions and combination plans), and group incentive plans.  With the piecework plans, earnings are tied directly to what the individual worker produces, and are more appropriate in a manufacturing organization.  Commissions are more appropriate for salespeople in situations where they are largely unsupervised.  In group incentive plans like the Scanlon Plan, all workers involved in developing and implementing cost savings share in the benefits of the suggestions.


2. Explain five reasons why incentive plans fail.  When incentive plans fail, it can be for a variety of reasons like:  employees do not believe that effort will obtain the reward, bad management overrides the plan, rewards are tied to the wrong measures, the plan is complicated and difficult for employees to understand, or standards are too high or too low. 


3. Describe the nature of some important management incentives.  Two widely used management incentive plans are merit pay and profit-sharing plans.  Merit pay is any salary increase that is awarded to an employee on his or her individual performance.  Advocates argue that only pay tied directly to performance can motivate improved performance.  Profit-sharing plans distribute a portion of the company's profits to employees in the form of a bonus.  Research shows that benefits are more subtle than increased productivity—benefits are possibly in the form of better worker commitment.  There might also include long-term incentives.


4. When and why would you pay a salesperson a salary and commission combined?  Salary plans work well when your objective is prospecting work or where the salesperson is primarily involved in account servicing.  They are often found in industries that sell technical products.  A commission plan is appropriate when sales costs are proportional to sales.  This can reduce the selling investment for fixed costs.  The straight commission also provides salespeople with the greatest possible incentive and there is a tendency to attract high-performing people.  Combination plans are used when the firm wants to direct its salespeople's activities by detailing what services the salary component is being paid for while the commission component provides a built-in incentive.


5. What is merit pay?  Do you think it's a good idea to award employees merit raises?  Why or why not?  Merit pay is a salary increase that is awarded to an employee based on his or her individual performance.  It is a good idea to award merit raises when you have a good performance appraisal system and employees' individual effort can be fairly and accurately evaluated or measured.


6. In this chapter, we listed a number of reasons experts give for not instituting a pay-for-performance plan (such as "rewards punish").  Do you think these points (or any of them) are valid?  Why or why not?  All of these reasons are, or can be, valid.  There will also be organizational situations where one or more of them will not be valid.  Students should describe situations in which the reason is (or is not) valid. 


7. What is a Scanlon plan?  Based on what you've read in this book so far, what features of a commitment-building program does the Scanlon plan include?  This is an incentive plan that was developed in 1937 by Joseph Scanlon.  It includes features such as a philosophy of cooperation, identity, competence, involvement, and sharing of benefits.  All these are features of a commitment-building program.  The Scanlon plan is actually an early version of what today is known as a gainsharing plan.


8.  Give four examples of when you would suggest using team or group incentive programs rather than individual incentive programs.  Students should review the sections in the chapter on team or group incentive programs and individual incentive programs, and think about situations where they would prefer one incentive plan over the other.


INDIVIDUAL AND GROUP ACTIVITIES


1. Working individually or in groups, develop an incentive plan for the following positions:  chemical engineer, plant manager, used-car salesperson.  What factors did you have to consider in reaching your conclusions?  I would give the chemical engineer a merit raise system because he or she has little perceived control or impact over the production or profitability of the company.  The plant manager should receive an annual bonus tied to the profitability of the plant, as well as a stock option plan to encourage long-term planning as well.  The used-car salesperson would likely receive a straight commission plan because sales are more directly dependent on his or her ability to sell those cars to prospective customers.  


2. A state university system in the southeast recently instituted a "Teacher Incentive Program" (TIP) for its faculty.  Basically, faculty committees within each university’s college were told to award $5,000 raises (not bonuses) to about 40% of their faculty members based on how good a job they did teaching undergraduates and how many they taught per year.  What are the potential advantages and pitfalls of such an incentive program?  How well do you think it was accepted by the faculty?  Do you think it had the desired effect?  This program would put a premium on undergraduate teaching as opposed to research or graduate teaching.  If it were to work, the best teachers would be motivated to teach at the undergraduate level in order to increase their earnings.  The pitfalls are many.  Some research or graduate faculty may actually make more through consulting or other outside means, thus they will not be motivated by this system.  If research is important to this organization, or the graduate programs are vital, this incentive plan could damage those programs.  The awarding of the moneys is likely to be inconsistent because specific guidelines have not been spelled out.  More likely, the rewarding of the raises may become more political as the committees who have other values determine the awards.  It is very likely that the system was met with great opposition by the faculty.  


3. The HRCI “Test Specifications” appendix at the end of this book lists the knowledge someone studying for the HRCI certification exam needs to have in each area of human resource management (such as in Strategic Management, Workforce Planning, and Human Resource Development). In groups of four to five students, do four things: (1) review that appendix now; (2) identify the material in this chapter that relates to the required knowledge the appendix lists; (3) write four multiple-choice exam questions on this material that you believe would be suitable for inclusion in the HRCI exam; and (4) if time permits, have someone from your team post your team’s questions in front of the class, so the students in other teams can take each other’s exam questions.  


4. Several years ago, the pension plan of the Utility Workers Union of America proposed changing the corporate bylaws of Dominion Resources, Inc., so that in the future, management had to get shareholder approval of executive pay exceeding $1 million, as well as detailed information about the firm’s executive incentive plans. Many unions—most of which have pension funds with huge investments in U.S. companies—are taking similar steps. They point out that, usually, under Internal Revenue Service regulations, corporations can’t deduct more than $1 million in pay for any of a company’s top five paid executives. Under the new rules the unions are pushing, boards of directors will no longer be able to approve executive pay above $1 million; instead, shareholders would have to vote on it. In terms of effectively running a company, what do you think are the pros and cons of the unions’ recommendations? Would you vote for or against the unions’ recommendation?  Why or why not?  Most students may support this recommendation, but they need to be able to clearly state rational reasoning as to why.  Hopefully you will have some students who oppose it in order to clearly give both sides to the argument.  You may want to make sure both sides are well represented.


EXPERIENTIAL EXERCISES & CASES

Experiential Exercise:  Motivating the Sales Force at Express Auto


This exercise presents a fictional auto dealership and problems that they are experiencing with customer satisfaction and quality.  Students are to analyze the current compensation system to see if it contributes to the problem.


1. In what ways might your group’s compensation plan contribute to the customer service problems?  Sales force:  pay is based almost entirely on commission.  The salesperson has no motivation to assist customers who they do not believe will result in a sale.  Finance office:  bonuses for getting customers to use the company financing encourage finance people to coerce people into making that choice.  Detailing:  pay is based entirely on the number of cars detailed per day.  There is no measure of quality, nor requirement of it regarding pay.  Mechanics:  pay is based almost entirely on number of cars serviced as well as servicing them faster than the standard estimated repair time.  There is no measurement of quality or accuracy of repairs.  Receptionist/phone service people:  straight hourly rate does not have any performance rewards.


2. What recommendations would you make to improve the compensation system in a way that would likely improve customer satisfaction?  The dealership already has a customer satisfaction survey in place.  They need to link results from quality measures to the incentives that their employees receive.  Examples are: Sales force:  one might decrease the commission somewhat and place that amount in a pool that is distributed based on customer comments about specific sales personnel.  Finance office:  bonuses for using company financing should be no more than bonuses based on customer satisfaction ratings.  Detailing:  there must be a measure of quality and detailers should be docked for any problem that results from their lack of attention to detail.  Mechanics:  re-works should dock a mechanics pay and mechanics whose work results in no complaints should receive a significant bonus.  Receptionist/phone service people:  those who answer the phone should be able to gain either performance increases in pay, or bonuses based on customer satisfaction ratings.  In general, the approach should be like “teaching to the test.”  If you want test scores to improve, you teach what will be on the test.  If you want measures of customer satisfaction to improve, you reward (or punish) people for those measures.  


Application Case: Inserting the Team Concept into Compensation – Or Not


Sandy Caldwell, the new Human Resources Manager for Hathaway Manufacturing, wanted to improve teamwork at every level of the organization. As part of the process of implementing cultural change, Sandy introduced a new pay-for-performance system.  The reaction to the change was immediate and “100 % negative.”


1. Does the pay-for-performance plan seem like a good idea?  Why or why not? Management wants to provide incentive for team performance.  Their motives are fine.  Properly crafted (and with employee involvement), a pay-for-performance system may add value at Hathaway.

 

2. What advice would you give Regina and Sandy as they consider their decision? Most scholars suggest that pay for performance works best (in the U.S.), when it has both an individual and a team component. Further, Regina and Sandy need to consider ways of engaging the workforce in the design/decision process. This involvement will likely provide better ideas, identify potential problem areas with proposed systems before they are implemented, and aid in the implementation process. 

 

3. What mistakes did they make in adopting and communicating the new salary plan? How might Sandy have approached this major compensation change a little differently? Sandy failed to involve significant stakeholders in the process.  Their input would likely have identified potential weaknesses in her system.  Further, by not involving others, the change in pay came largely as a surprise.  Employees take their pay seriously; surprises are not welcome.  Sandy already had agreement on some issues, like the mission and the vision.  She could have used that agreement to begin a dialog on linking compensation more directly to effectively accomplishing the mission.

 

4. Assuming the new pay plan was eventually accepted, how would you address the fact that in the new performance evaluation system, employees’ input affects their peers’ pay levels? Typically, plans have two levels – a team component and an individual component.  It is important for the team to realize that the company does best when the whole team succeeds, and that team success also requires individual performance.


Continuing Case:  Carter Cleaning Company – The Incentive Plan


1. Should this plan in its present form be extended to pressers in the other stores?  No, not in its present form.  While the piece-rate plan does make more effective use of Walt’s time and saves the company energy money, the quality control issue is a problem.  There needs to be an included incentive for quality.


2. Should other employees (cleaner-spotters, counter people) be put on a similar plan?  Why?  Why not?  If so, how, exactly?  It makes sense for some positions but not for others.  Cleaner-spotters are production employees who could also benefit from a similar plan.  It would have to have a quality incentive that makes sure they actually get the garments cleaned correctly!  An incentive plan that focuses on customer satisfaction makes more sense for the counter people.


3. Is there another incentive plan you think would work better for the pressers?  Some ideas might include combination plans (salary plus piece-rate), profit-sharing, or merit pay (higher pay for those who produce more.


4. A store manager’s job is to keep total wages to no more than 30% of sales and to maintain the fuel bill and the supply bill at about 9% of sales each. Managers can also directly affect sales by ensuring courteous customer service and by ensuring that the work is done properly.  What suggestions would you make to Jennifer and her father for an incentive plan for store managers?  Profit-sharing, gainsharing, performance plans, annual bonus, recognition, and merit pay are all options.


Translating Strategy into HR Policies and Practice Case: The Hotel Paris 


The New Incentive Plan – The continuing case study of Hotel Paris is discussed here. In this segment HR manager Lisa Cruz must find a way to link pay to performance.


1. Discuss what you think of the measurable criteria Lisa and the CFO set for their new incentive plan. 


Having a large percentage of employees eligible for merit or incentive is good, but will also be expensive. A 10% difference in reward level will likely motivate improved performance. In order to justify the expense there should be some proof that the behaviors which will be rewarded are linked to improved organizational financial performance. Lisa will need to track and communicate these links. It is also important that the Hotel Paris find ways to measure what they plan to reward.


2. Given what you know about the Hotel Paris’ strategic goals, list 3-4 specific behaviors you would incentivize for each of the following groups of employees: front desk clerks, hotel managers, valets, and housekeepers.


Answers will vary but may include:

Front desk clerks – speed of check-in, number of positive comments by guests, decrease in number of complaints

Hotel managers – decrease in absenteeism, process improvements

Valets – time taken to deliver luggage from curb to room, decrease in number of wrong deliveries, positive feedback received

Housekeepers – decrease in number of complaints, decrease in number of deliveries to room of forgotten items, increase in number of rooms available for early check-in


3. Lay out a complete incentive plan (including all long- and short-term incentives) for the Hotel Paris’ hotel managers. 

 

The Hotel Paris has placed outstanding customer service as a major goal for all staff especially the management staff.  Unfortunately, the current pay plan does not currently link pay to performance.  Therefore, both short and long term incentives should be considered to help support management staff to in modeling the importance of provide outstanding customer service to the entire hotel staff.  Also an incentive plan should be implemented to recognize and reward the accomplishment of organizational goals.  Short-term incentives should include periodic recognition and reward programs to all staff who demonstrate outstanding customer service on a routine basis.  In addition, an annual bonus based on performance and goal accomplishments could be implemented to those key staff responsible for front line customer service as well as the accomplishment of other goals which advance the mission of the organization.  The organization should also consider implementing a merit pay program that would link pay to effective job performance.  Long-term bonuses could include profit sharing based on hotel occupancy and customer service reviews. 




KEY TERMS


financial incentives Financial rewards paid to workers whose production exceeds some predetermined standard.


fair day’s work Standards of output which employers should devise for each job based on careful, scientific analysis.


scientific management A management approach that emphasizes improving work methods through observation and analysis.


expectancy A person’s expectation that his or her efforts will lead to performance.


instrumentality The perceived relationship between successful performance and obtaining the reward.


valence The perceived value a person attaches to the reward.


behavior modification               Changing behavior through rewards or punishments that are contingent upon performance.


variable pay Any plan that ties pay to productivity or profitability, usually as one-time lump payments.


piecework A system of pay based on the number of items processed by each individual worker in a unit of time, such as items per hour or items per day.


straight piecework An incentive plan in which a person is paid a sum for each item he or she makes or sells, with a strict proportionality between results and rewards.


standard hour plan A plan by which a worker is paid a basic hourly rate, but is paid an extra percentage of his or her base rate for production exceeding the standard per hour or per day.  Similar to piecework payment but based on a percent premium.


merit pay (merit raise) Any salary increase awarded to an employee based on his or her individual performance.


annual bonus Plans that are designed to motivate short-term performance of managers and are tied to company profitability.


stock option The right to purchase a stated number of shares of a company stock at today's price at some time in the future.


golden parachutes Payments companies make in connection with a change in ownership or control of a company.


team or group incentive A plan in which a production standard is set for a specific work group, and its members are paid incentives if the group exceeds the production standard.


organizationwide Plans in which all or most employees can participate, and which 

incentive plans generally tie the reward to some measure of company-wide performance.


profit-sharing plan A plan whereby most employees share in the company's profits.


Scanlon plan An incentive plan developed in 1937 by Joseph Scanlon and designed to encourage cooperation, involvement, and sharing of benefits.


gainsharing plan An incentive plan that engages employees in a common effort to achieve productivity objectives and share the gains.


at-risk variable pay plans Plans that put some portion of the employees’ weekly pay at risk, subject

to the firm meeting its financial goals.


employee stock ownership A corporation contributes shares of its own stock to a trust in which additional contributions are made annually.  The trust distributes the stock to employees on retirement or separation from service.




中国经济管理大学 终身教育平台.jpg

中国经济管理大学

中国经济管理大学MBA公益课堂:

中国经济管理大学|中国经济管理大学|中国经济管理大学|中国经济管理大学培训|MBA实战|中国经济管理大学|MBA培训|硕士研究生|职业资格|管理培训 






中國經濟管理大學版權所有

本文链接:http://eauc.hk/post/782.html

分享给朋友:
返回列表

上一篇:Employee Safety And Health

没有最新的文章了...

“Pay for Performance And Financial Incentives” 的相关文章

CHAPTER 6: TRANSPORTATION

CHAPTER 6: TRANSPORTATION講義:小保羅·R·墨菲《MBA物流學》(6)&nb...

Chapter 7: Transportation Management

Chapter 7: Transportation ManagementPART IIANSWERS...

CHAPTER 9: INVENTORY MANAGEMENT

CHAPTER 9: INVENTORY MANAGEMENTPART IIEND-OF-CHAPT...

CHAPTER 10: WAREHOUSING MANAGEMENT

CHAPTER 10: WAREHOUSING MANAGEMENTPART IIEND-OF-CH...

CHAPTER 11: PROCUREMENT

CHAPTER 11: PROCUREMENTPART IIEND-OF-CHAPTER QUEST...

CHAPTER 12: INTERNATIONAL LOGISTICS

CHAPTER 12: INTERNATIONAL LOGISTICSPART IIEND-OF-C...