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John Mavor John Mavor
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2 years ago
can you think of any other ways that managers can motivate their employees through creatively designed compensation arrangements?
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#1
Staff Member
2 years ago
Bonuses

  • An annual bonus is a significant component of total compensation for many jobs.
  • Bonus plans increasingly include lower-ranking employees; many companies now routinely reward productive employees with bonuses in the thousands of dollars when profits improve.
  • Downsides of bonuses: employees’ pay is more vulnerable to cuts.

Profit-sharing plans

  • Profit-sharing plans are organization-wide programs that distribute compensation based on some established formula centered around a company’s profitability.

Employee stock ownership plans

  • An employee stock ownership plan (ESOP) is a company-established benefit plan in which employees acquire stock, often at below-market prices, as part of their benefits. 
  • Research on ESOPs indicates they increase employee satisfaction and innovation.

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