HR ENGLISH - VOCABULARY PRACTICE
Read the extract from Human Resources Management book, published by Cengage Learning (2010). Some of the words and expressions were cut out. Fill in all the gaps with the suitable expression.
- employee stock plans
- sales commissions
„The incentives offered in variable pay plans can be classified into three categories: individual, team, and organizational. There are advantages and disadvantages to each.
(1)_________ incentives are given to reward the effort and performance of individuals. Some common means of providing individual variable pay are piece-rate systems, (2)__________, and individual bonuses. Others include special recognition rewards such as trips or merchandise. However, with individual incentives, employees may focus on what is best for them personally, which may inhibit the performance of other individuals with whom they are competing. For this reason, in some situations, team incentives may be more appropriate.
When an organization rewards an entire (3)__________for its performance, cooperation among the members may increase. The most common team incentives are (4)________ or goalsharing plans, in which the employees on a team that meets certain goals, as measured against performance targets, share in the gains. Often such programs focus on quality improvement, cost reduction, and other measurable results.
(5)_________ incentives reward people according to the performance results of the entire organization. This approach assumes that all employees working together can generate improved organizational results that lead to better financial performance. These programs often share some of the financial gains made by the firm with employees through payments calculated as a percentage of the employees’ base pay. The most prevalent forms of organization-wide incentives are profit-sharing plans and (6)_________.”
1.d 2.f 3.c 4.a 5.e 6.b