Question

If someone improves productivity by developing a new work process and receives a portion of the productivity savings as a monetary reward, this is an example of a/an ____________ pay plan.

Answer 1

Answer:

Gain sharing

Explanation:

Gain sharing pay plan is a system of management gives higher share of financial gain to employees that have higher performance.

The aim of this strategy is to seek improved performance through more involvement and participation of its people.

So in this scenario a person improves productivity by developing a new work process and receives a portion of the productivity savings as a monetary reward.

This is a gain sharing pay plan