国际商务管理概论与结算英文版课件修订版朱文忠 9787 81134 803 316 2.pptVIP

Lecturer: Zhu Wenzhong LEARNING GOALS Define the term “financial rewards” Explain the five payment schemes for rewarding employees Explain the five types of incentive schemes used by businesses to motivate workers Explain the incentive schemes for employees and those for managers and directors State some problems with these incentive schemes Compensation Financial rewards: Wage—compensation based on an hourly pay rate or the amount of output produced. Salary—compensation calculated on a periodic basis, such as weekly or monthly. Benefits Compensation Most firms base their compensation policies on five factors: Salaries and wages paid by others Government legislation Cost of living Firm’s ability to pay Worker productivity Payment schemes Time rates: paid for the time spent at work , weekly or monthly Annualized hours: paid on the basis of certain hours a year Piece rates: paid for each item produced Commission: paid by a percentage of the value of each good sold Fringe benefits: extra pay for insurance, car or training Question for critical thinking What are the objectives of employees for the payment they receive? Types of incentive scheme Piece rate Profit sharing Profit-related pay Share-related pay Performance-related pay Types of incentive scheme Each unit produced over the target is rewarded with a bonus or commission payment. Types of incentive scheme Profits are shared equally or as agreed by partners. Types of incentive scheme Employees are paid a bonus as a percentage of the profit amount made by a company. Types of incentive scheme Employees are offered some shares or the possibility of purchasing some shares as an incentive Types of incentive scheme Employees’ annual salary is linked to their performance in the job. The size of payment is determined by the achievement of the set target. Question for critical thinking Why do companies encourage the use of share ownership as an incentive scheme? Incentive schemes may differ for employees