GK
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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cooperation, identity, control, involvement and sharing of profits.
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control, individuality, competence, involvement and sharing of benefits.
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cooperation, identity, competence, involvement and sharing of benefits.
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control, individuality, commitment, involvement, and sharing of benefits.
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Detailed explanation-1: -Scanlon plans have five basic features. Such as (1) philosophy of cooperation, (2) identity, (3) competence, (4) involvement system, and (5) sharing of benefits formula.
Detailed explanation-2: -The Scanlon Plan It is a cost-saving employee incentive program that correlates incentives with the ratio of production cost relative to production value. In simple terms, in a Scanlon plan, the higher the production output of an employee relative to his hourly compensation, the higher is his extra incentives.
Detailed explanation-3: -Frost would also create the Frost/Scanlon Principles of Identity, Participation, Equity and Competence.
Detailed explanation-4: -Scanlon Plan is cost-saving, gain-sharing, productivity-incentive plan in which any saving (agreed upon standard labour cost per unit of output subtracted from actual labour cost per unit of output) is shared equally between the workers and the organization.