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Performance-related Pay
Performance-related pay or pay for performance, not to be confused with performance-related pay rise, is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform. Car salesmen or production line workers, for example, may be paid in this way, or through commission (remuneration), commission. Many employers use this standards-based system for evaluating employees and for setting salaries. Standards-based methods have been in ''de facto'' use for centuries among commission-based sales staff: they receive a higher salary for selling more, and low performers do not earn enough to make keeping the job worthwhile even if they manage to keep the job. In effect, the salary would be re-evaluated up, or down, periodically (usually annually) based on the performance of the individual or team. The reward is the salary: with an expectation to be high on the pay band for high performance and low on the band for low performan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salary
A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. Salaries are typically determined by comparing market pay-rates for people performing similar work in similar industries in the same region. Salary is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is also affected by the number of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geert Hofstede
Gerard Hendrik (Geert) Hofstede (2 October 1928 – 12 February 2020) was a Dutch social psychologist, IBM employee, and Professor Emeritus of Organizational Anthropology and International Management at Maastricht University in the Netherlands, well known for his pioneering research on cross-cultural groups and organizations. He is best known for developing one of the earliest and most popular frameworks for measuring cultural dimensions in a global perspective. Here he described national cultures along six dimensions: power distance, individualism, uncertainty avoidance, masculinity, long term orientation, and indulgence vs. restraint. He was known for his books ''Culture's Consequences'' and ''Cultures and Organizations: Software of the Mind'', co-authored with his son Gert Jan Hofstede. The latter book deals with organizational culture, which is a different structure from national culture, but also has measurable dimensions, and the same research methodology is used for bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pay-for-Performance (Federal Government)
Pay-for-Performance is a method of employee motivation meant to improve performance in the United States federal government by offering incentives such as salary increases, bonuses, and benefits. It is a similar concept to Merit pay, Merit Pay for public teachers and it follows basic models from Performance-related pay, Performance-related Pay in the private sector. According to recent studies, however, there are key differences in how pay-for-performance models influence federal employees in public service roles. James L. Perry, James Perry is one scholar who has conducted such studies. His research reveals that public servants tend to be more intrinsically motivated, and thus, are prone to have a negative reaction to monetary incentives. There is still debate, however, on what exactly makes the public sector different. History Pay-for-performance programs first began in the private sector. As consultants, academic experts, and employee advocate groups analyzed merit pay sys ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pay For Performance (healthcare)
Pay or PAY may refer to: *A wage or salary earned for work *The process of payment Places * Pay-e Borj, a village in Lorestan Province of Iran * Pay-e Kal-e Garab, a village in Ilam Province of Iran * Pay-e Rah, a village in Khuzestan Province of Iran * Pay Lake, a lake in Minnesota, USA *Pay Nga mountain in Sweden Other * Pay (geology), the portion of a reservoir that contains economically recoverable hydrocarbons *'' Partido Alianza por Yucatán'', a political party in Mexico *The Hebrew letter Pe *Verifone Verifone, Inc. is an American multinational corporation headquartered in New York City, New York. Verifone provides technology for electronic payment transactions and value-added services at the point of sale, point-of-sale. Verifone sells merc ... (NYSE stock ticker: PAY) People with the surname Pay * Antony Pay (born 1945), English clarinettist * Dean Pay (born 1969), Australian rugby league footballer * E. J. Pay (died 1931), British labour movement activist * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seasonal Bonuses (Japan)
Seasonal bonuses are paid twice yearly in Japan to salaried workers. It is generally referred to as a The summer bonus is called by companies and by unions. It is paid in June or July. The winter bonus is called by companies and by unions and is paid in December. The bonus amount varies from company to company and from year to year, but is generally several months' salary. For example, the 2012 summer bonuses for Japan Airlines employees were equivalent to two months' pay, while All Nippon Airways paid the equivalent of six weeks' pay. As reflected by the different Japanese naming above, while workers effectively consider it to be part of their salary, from the perspective of employers it is contingent on the company performing well, and can be reduced or cut more easily than salaries if the employer considers it necessary. For example, the June 2009 bonuses, during the 2008 financial crisis, were a 19% year-on-year drop according to the Japan Business Federation. 2012 bonuses ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compensation Of Employees
{{no footnotes, date=April 2010 Compensation of employees (CE) is a statistical term used in national accounts, balance of payments statistics and sometimes in corporate accounts as well. It refers basically to the total gross (pre-tax) wages paid by employers to employees for work done in an accounting period, such as a quarter or a year. However, in reality, the aggregate includes ''more'' than just gross wages, at least in national accounts and balance of payments statistics. The reason is that in these accounts, CE is defined as "the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period". It represents effectively a total labour cost to an employer, paid from the gross revenues or the capital of an enterprise. Compensation of employees is accounted for on an accrual basis; i.e., it is measured by the value of the remuneration in cash or in kind which an employee ''becomes entitled to re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Incentive Program
An incentive program is a formal scheme used to promote or encourage specific actions or behavior by a specific group of people during a defined period of time. Incentive programs are particularly used in business management to motivate employees and in sales to attract and retain customers. Scientific literature also refers to this concept as pay for performance. Types Consumer Consumer incentive programs are programs targeting the customers of an organization. According to research from 1990, increases in a company's customer retention rate as low as 5% tended to increase profits by 25%-125%. Consumer programs were becoming more widely used as more companies realized that existing customers cost less to reach, cost less to sell to, were less vulnerable to attacks from the competition, and bought more over the long term. Employee Employee incentive programs are programs used to increase overall employee performance. While employees tend to approve of incentive programs, only ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Piece Work
Piece work or piecework is any type of employment in which a worker is paid a fixed piece rate for each unit produced or action performed, regardless of time. Context When paying a worker, employers can use various methods and combinations of methods. Some of the most prevalent methods are: wage by the hour (known as "time work"); annual salary; salary plus commission (common in sales jobs); base salary or hourly wages plus gratuities (common in service industries); salary plus a possible bonus (used for some managerial or executive positions); salary plus stock options (used for some executives and in start-ups and some high tech firms); salary pool systems; gainsharing (also known as "profit sharing"); and being paid by the piece – the number of things they make, or tasks they complete (known as "output work"). Some industries where piece rate pay jobs are common are agricultural work, cable installation, call centers, writing, editing, translation, truck driving, data ent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Incentive
In general, incentives are anything that persuade a person or organization to alter their behavior to produce the desired outcome. The laws of economists and of behavior state that higher incentives amount to greater levels of effort and therefore higher levels of performance. For comparison, a disincentive is something that discourages from certain actions. Divisions An incentive is a powerful tool to influence certain desired behaviors or action often adopted by governments and businesses. Incentives can be broadly broken down into two categories: intrinsic incentives and extrinsic incentives. Overall, both types of incentives can be powerful tools often employ to increase effort and higher performance according to the "law of behavior." Incentives are most studied in the area of personnel economics where economic analysts, such as those who take part in human resources management practices, focus on how firms make employees more motivated, through pay and career concerns, Fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Studies
Business studies, often simply called business, is a field of study that deals with the principles of business, management, and economics. It combines elements of accountancy, finance, marketing, organizational studies, human resource management, and operations. Business studies is a broad subject, where the range of topics is designed to give the student a general overview of the various elements of running a business. The teaching of business studies is known as business education. Countries in which the subject is taught under the name "business studies" include Mauritius, Oman, Bahrain, South Korea, Argentina, Australia, Bangladesh, Nepal, Brazil, Canada, Hong Kong, India, Ireland, Mexico, Singapore, Malaysia, Cambodia, Kenya, Poland, Malta, New Zealand, Nigeria, Pakistan, South Africa, Sri Lanka, Sweden, the United Kingdom, Namibia, Zimbabwe and Indonesia. United Kingdom England Business studies can be taken as part of the General Certificate of Secondary Ed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Daniel H
Daniel commonly refers to: * Daniel (given name), a masculine given name and a surname * List of people named Daniel * List of people with surname Daniel * Daniel (biblical figure) * Book of Daniel, a biblical apocalypse, "an account of the activities and visions of Daniel" Daniel may also refer to: Arts and entertainment Literature * ''Daniel'' (Old English poem), an adaptation of the Book of Daniel * ''Daniel'', a 2006 novel by Richard Adams * ''Daniel'' (Mankell novel), 2007 Music * "Daniel" (Bat for Lashes song) (2009) * "Daniel" (Elton John song) (1973) * "Daniel", a song from '' Beautiful Creature'' by Juliana Hatfield * ''Daniel'' (album), a 2024 album by Real Estate Other arts and entertainment * ''Daniel'' (1983 film), by Sidney Lumet * ''Daniel'' (2019 film), a Danish film * Daniel (comics), a character in the ''Endless'' series Businesses * Daniel (department store), in the United Kingdom * H & R Daniel, a producer of English porcelain between 1827 and 18 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
