gainsharing
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What is gainsharing and is it feasible. What can be done to increase the success of gainsharing?
What negative effectives are likely to result from the successful implementation of a gainsharing plan.?
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What is gainsharing and is it feasible. What can be done to increase the success of gainsharing?
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What is gainsharing and is it feasible?
It is a technique that compensates workers based on improvements in the company's productivity. Basically, a Company shares productivity gains with the workforce. Workers voluntarily participate in management to accept responsibility for major reforms. This type of pay is based on factors directly under a worker's control (i.e., productivity or costs). Gains are measured and distributions are made frequently through a predetermined formula. Because this pay is only implemented when gains are achieved, gainsharing plans do not adversely affect company costs. Gainsharing, although difficult to implement and administer, is certainly feasible.
What can be done to increase the success of gainsharing
Gainsharing works Works best when company performance levels can be easily quantified. Employee involvement significantly enhances the effectiveness of incentive pay. When used simultaneously, ...
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- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
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