In Human Resources: 1. Plans that are designed to help increase efficiency by in
ID: 466466 • Letter: I
Question
In Human Resources:
1. Plans that are designed to help increase efficiency by increasing the productivity of the company’s employees and/or lowering the firm’s labor costs is known as:
a. Employee stock ownership plans
b. Profit sharing plans
c. Gainsharing plans
d. Deferred profit sharing plans
2. When considering employees who are rated as “excellent in customer service”, they are likely suffering from a lack of ______________ performance measures.
a. paired
b. specific
c. standard
d. ranking
3. ______________ is when job descriptions are reviewed and jobs are listed in order from lowest to highest in the company.
a. Job classification.
b. Benchmarking.
c. Job ranking.
d. Joint classification.
Explanation / Answer
A profit sharing or gain sharing plan is a plan that shares some of the profit with employees. It motivates employees to increase production (improved productivity) without investing anything extra. It means that productive increases and production cost per unit lower.
Hence the correct option is option (b) "Profit sharing plans"
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