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Essay / Research Paper Abstract
This 3-page paper focuses on pay and incentive systems for Nucor Corp. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: AS43_MTnucperso.rtf
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Unformatted sample text from the term paper:
produces approximately 15 million tons of steel annually, as well as being a major recycler of scrap metal (Partheymuller, 2010). Most of its product is sold to steel service
centers, manufacturers and fabricators (Partheymuller, 2010). Though Nucor faces domestic and foreign competition (as well as economic difficulties), the company hasnt laid off
any employees in more than 30 years (Partheymuller, 2010). The company modulates output, and employees pay, according to demand - though this means employees earn less during economic down times,
it means they still have jobs, even while others in the industry are laying off personnel. Nucor has set into place pay
that is based on a production bonus, and profit-sharing is placed on top of that (Cascio). All employees efforts, in fact, are tied to performance targets in the belief that
a pay-for-performance structure is going to be more effective than that of a standard base-pay structure. This can be effective; it can also be risky; as mentioned above, it can
mean there are years during which employees may not earn as much compensation then in other years. Nucor is different from its competition
in other ways as well - the corporate culture focuses on teamwork and idea sharing - there is no idea from the front lines that is too dumb or small
for management to consider. This is because this companys executives believe that "all of the best ideas come from the factory floor - and the newest workers often come up
with them" (Cascio, p. 454). This is a very good philosophy - the philosophy, combined with Nucors flatter organization, have helped the company come up with creative ideas and new
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