Motivating force Pay .

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Fall 2008. MGMT 412 | Incentive Pay. Page 2. Motivating force Pay. Fundamental issuesTypes of incentivesExecutive incentives...a uncommon case. Fall 2008. MGMT 412 | Incentive Pay. Page 3. Motivation Pay: Basic Issues.
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´╗┐Motivating force Pay

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Incentive Pay Basic issues Types of motivators Executive incentives...a exceptional case MGMT 412 | Incentive Pay

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Incentive Pay: Basic Issues "Remuneration that rewards a worker for endeavors past ordinary execution desires" Why impetuses? Control costs (pay dependent upon execution) Motivate representatives (pay dependent upon execution) Decisions to make What\'s compensated Extra time worked Results/results Basis of reward Individual Group/office Company MGMT 412 | Incentive Pay

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A Good Incentive Plan... Seen as reasonable (not a reward for sucking up !) Aimed toward controllable practices Understandable to the client Challenging yet sensible Clear destinations on front end Reward wanted practices (less demanding said than done...) Equity Theory Goal Setting Behavior Modification MGMT 412 | Incentive Pay

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Payment for Time Worked Overtime Some lawfully required, however a reward by the by Some not required by law, but rather by market Can pay more OT than required by law Shift differentials Holiday pay MGMT 412 | Incentive Pay

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Payment for Outcomes/Results Piece rate arranges Sales commissions Other execution motivating forces Spot rewards (prompt, little money/kind installments) Overall arrangements Profit sharing Gainsharing Stock buy/alternative arrangements MGMT 412 | Incentive Pay

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Executive Incentives Very subject to expense laws; thought is to get most extreme duty advantage for firm and representative Basis of reward Profits Stock value Other (administration, development) Issues Timing Investment required? Sums Link to execution ??? Carl Icahn MGMT 412 | Incentive Pay

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Is It Too Much???? * 2007 pay and motivating forces. Every other number from DoL, May 2007 U.S. normal MGMT 412 | Incentive Pay

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Some Other CEOs * 2003 representative rewards (latest information accessible) were normal $10,800 MGMT 412 | Incentive Pay

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