Question: Read each description of a different pay - for - performance ( PFP ) situation. Then, select the PFP plan name that most accurately fits
Read each description of a different payforperformance PFP situation. Then, select the PFP plan name that most accurately fits the description given.
Question options:
Colton is an auto mechanic working in his family's auto body shop. It takes him about minutes to complete an oil change and he gets paid $ for the completed job. Colton's father has told him that he will pay him an additional $ for every oil change that Colton completes in minutes or less.
Felix, Alyssa, Milo, and Reese work for a regional accounting firm as tax associates. If their firm hits its growth goals for tax season, then they can expect an immediate cash payout of of their annual salary.
Josie and Caleb work for a publiclytraded pharmaceutical firm. They were recently granted the ability to purchase company stock each pay period at a cost below the market rate. So for example, when they were paid this past Friday, the company stock closed at $share and they were able to purchase shares at $share
Alice works at a digital marketing firm in Philadelphia. She had an exceptionally productive year. At her annual performance review, she received a payout of $ as a result of her hard work and strong performance.
Saahas has been employed by his firm for two years. His starting salary was $ and after his first annual performance review, he received an raise to his annual salary. After his second annual review, he received an additional raise. As a result of these postreview raises, his salary is now $
Chris, Blake, and Ryan are a team of law associates reporting to the same law partner. If they can bring their team's billable hours up by and if they each successfully settle three cases in the next months, then will each earn an additional of their base monthly pay.
Dalton, Alexander, and Charlie work at a sneaker manufacturing plant. Their manager has informed them that they will be eligible for a performance payout if they can reduce shoe leather waste by from last year's standard. Management's goal is that employee teams are encouraged to think of new processes or novel steps in the manufacturing process that will lead to the reduction of scrap leather.
Seamus works as a customer service representative at a local branch of a national bank. One afternoon, he effectively dealt with a situation in which a client's funds had erroneously been transferred to her savings account instead of her checking account, causing her to bounce a mortgage payment check. Seamus worked with the client to call the mortgage company and arrange a sameday transfer of funds and then waived fees for the client as an apology from the bank. Seamus's manager was so impressed that he called the national headquarters, who promptly authorized a $ payment to Seamus for exceptional customer service.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
