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Human Resource Mgmt 11th Ed. Chapter 13

Terms

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Bonus
One-time payment that does not become part of the employee’s base pay.
Commission
Compensation computed as a percentage of sales in units or dollars.
Compensation committee
Subgroup of the board of directors, composed of directors who are not officers of the firm.
Draw
Amount advanced from and repaid to future commissions earned by the employee.
Employee stock ownership plan (ESOP)
Plan whereby employees have significant stock ownership in their employers.
Gainsharing
System of sharing with employees greater-than-expected gains in profits and/or productivity.
Perquisites (perks)
Special benefits—usually non-cash items—for executives.
Profit sharing
System to distribute a portion of the profits of the organization to employees.
Straight piece-rate system
Pay system in which wages are determined by multiplying the number of units produced by the piece rate for one unit.
Variable pay
Compensation linked to individual, group/team, and/or organizational performance.

Deck Info

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