Reduces cost to company & this is shared back with ees. Ee participation is key.

Question

Reduces cost to company & this is shared back with ees. Ee participation is key.

A. gainsharing

B. piece rate

C. employee stock ownership

D. profit sharing

Piecework plan in which rate increases/item over a certain # produced.

A. straight

B. qualitative

C. substantive

D. differential

Lump sum payment, typically given to an individual at the end of a time period.

A. commission

B. gainsharing

C. recognition

D. bonus

Ee is allowed to buy shares of stock at specified point in future, but at lower price.

A. piecework

B. gainsharing

C. Stock option

D. employee stock ownership plan

Explanation / Answer

1) Option A

Gain sharing refers to management plan to increase profitability of business by motivating employees to improve their performance through their involvement and participation.

2) Option D

Differential Piece Work System

Under differential Piece Work System the rate increase based on the output with in the standard time.

3) Option D

Bonus

A lumsum payment in the form of bonus is paid at the end of a period to employees.

4) Option C

Stock option

employee stock option plans are used by the companies to compensate, retain, and attract employees. such plans increases the performance and participation of employees. The reduces the cost to the company in different ways.

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