Fundamentals of Human Resource Management, 5/e

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Summary

1. Several incentive plans are particularly suited for individual employee incentives and recognition programs. With piecework, a person is paid a sum for each item he or she makes. Merit pay is a salary increase awarded to an employee based on his or her individual performance. Nonfinancial and recognition-based awards include employee recognition, gift certificates, and individual travel. Many employers use enterprise incentive management systems to automate their incentive plans. Incentives for salespeople are typically sales commissions. Most firms have annual bonus plans aimed ...