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Motivation and Compensation
Transcript of Motivation and Compensation
By: Olivia Bano
Based on company achieving financial targets
Usually a percent of annual salary
Way to keep people motivated
20/95 top-ranked employers in GTA use bonus pay
Way of rewarding for good performance
Performance-based bonus pay becoming more popular
(Globe and Mail: Bonus Pay)
Bonus Pay as a Motivator
Employee Stock Ownership
Gives workers ownership share in company
Employees can sell stock to make a profit
Way to retain and reward employees
Stock Ownership as a Motivator
Multiple studies show there is advantage for ESOPs
People feel there are more part of the company
Employee engagement increases
Promotes Intrapreneurship- behaving like an entrepreneur in a large company
(Forbes: Employee Stock Ownership)
Sharing profit with employees based on their contribution to that gain
Customized to company's objectives
Sets a common goal
An employee achieves a sales gain, and gets a portion of the profit.
Giving employees a share of company's profits
Percentage of profits based on company's annual earnings
Gain-sharing vs. Profit-sharing
specific to employee(s) contribution to the gain
Amount determined by calculation
an annual payout for everyone when financial targets are met or exceeded
Amount determined by year-end profits
Pay relating to how well someone works
Percent of how much sold
Employees paid wages on basis of number of job skills acquired
Specific plan decided based on situation
Skills- Based pay as a Motivator
Study at University of Arkansas shows this is more effective in manufacturing facilities than service-based
Given pay increase for learning new skill
Improvement in workplace productivity and flexibility
(Reliableplant: Skills-based pay)
"Bonuses that are available to all motivate staff." The Globe and Mail. N.p., n.d. Web. 18 May 2014. <http://
"Gainsharing Consulting: Gainsharing Defined - Masternak & Associates." Gainsharing Consulting: Gainsharing Defined - Masternak & Associates. N.p., n.d. Web. 18 May 2014.
"Gainsharing Consulting: Gainsharing Versus Profit Sharing - Masternak & Associates." Gainsharing Consulting: Gainsharing Versus Profit Sharing - Masternak & Associates. N.p., n.d. Web. 18 May 2014.
Myler, Larry. "An Employee Stock Ownership Plan (ESOP) Could Increase Employee Engagement And Promote Intrapreneurship -- Here's How." Forbes. Forbes Magazine, 11 Oct. 2013. Web. 18 May 2014.
"Profit-Sharing Plan Definition | Investopedia." Investopedia. N.p., n.d. Web. 18 May 2014.
"Study shows skill-based pay works well for manufacturers." Study shows skill-based pay works well for manufacturers. N.p., n.d. Web. 18 May 2014.
"What is gainsharing? definition and meaning." BusinessDictionary.com. N.p., n.d. Web. 18 May 2014.
"What is skill based pay? definition and meaning." BusinessDictionary.com. N.p., n.d. Web. 18 May 2014.