Gainsharing incentive plans Essay

| September 30, 2015

ASSIGNMENT 06 BZ420 Human Resource Management Project Management in Practice, Chapter 6 Directions: Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Your response should be a minimum of one (1) single-spaced page to a maximum of two (2) pages in length; refer to the “Assignment Format” page for specific format requirements. 1. What are gainsharing incentive plans? 2. Identify at least ten (10) characteristics that contribute to the success of some gainsharing plans. 3. Identify at least five (5) factors that contribute to the failure of some gainsharing plans. THIS IS THE END OF ASSIGNMENT 06. Example below put in proper APA format and created an orginal version with 2 sources. Gainsharing is an organizational wide approach to enhancing the organizational effectiveness through a formal system of employee involvement and a group financial bonus. Gainsharing involves a measure of productivity combined with calculation that offers a mutual stake in the sharing of any to the total organizational productivity. Gainsharing is modern way of rewarding the employees. Factors that contribute to the success of gainsharing: • Increases motivation level in the employees. • Attracts the employees. • Leads to retention of employees. • Productivity increases. • Gainsharing is a modern reward system having direct impact on skill development of employees. • Employee satisfaction. • Quality improvement. • Increase creativity or mental effort. • Organizational effectiveness. • Improved labor management relations. Factors contributing to the failure of gainsharing plans: • Gainsharing plan is difficult to implement in big organizations operating at global level. • Non contribution is seen as negative attitude towards management. • Gainsharing is not suitable for all types of organizations. • Increases the job complexity. • No fundamental model is there to develop the gainsharing plan. Conclusion Gainsharing is the modern way of developing the incentive plan. Gainsharing is the best way to achieve goals through employee satisfaction.

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