Gain Sharing System and Key Trends
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Question: What are the objectives of the gainsharing system and the report on key trends?
The objectives of the Gain Sharing system is to provide extrinsic motivation, rewards that are external to the individual and unrelated to the task they are performing. In addition, the employees have an incentive to perform above par and go beyond what is expected of them. Employees will most likely stay when given rewards, higher salary and compensations with the company, which will help reduce the turnover rate. The gainsharing system will help increase productivity, product quality, and give workers a feeling that work is enjoyable.The gain sharing system reflects the theory Y management which assumes employees are ambitious, self-motivated, anxious to accept greater responsibility, and exercise self-control and self-direction. It is believed that employees enjoy their mental and physical work activities. It is also believed that employees have the desire to be imaginative and creative in their jobs if they are given a chance. There is an opportunity for greater productivity by giving employees the freedom to be their best.
Attached is the case, please look at page 4 and 5 (my answer is also in the word document).
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Solution Summary
This solution explains the objectives of the gain sharing system and the key trends.
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Please see response attached, which is also presented below. You did a great job linking the objectives to theory. As I read page 4 and 5, I jotted down the stated objectives which I included. For the most part, we listed the same objective but in different wording. I also added a section on the reported trends. Good luck with your studies and take care.
RESPONSE:
3. What are the objectives of the gainsharing system and the report on key trends?
The objectives of the Gain Sharing system is to provide extrinsic motivation, rewards that are external to the individual and unrelated to the task they are performing. In addition, the employees ...
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