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The management at a shoe factory planned to terminate production due to labor issues that were consuming most of the profits. For years, the strong union at this facility did some tough negotiating with the company's corporate headquarters. In a companywide vote, employees agreed to walk away from union membership in order to keep the factory open and save their jobs. The NLRB (National Labor Relations Board) agreed that it was in the best interest of the employees. ______________ was started to take away the rights of union representation at the factory.
Performance Bonus
Additional financial compensation awarded to employees based on an evaluation of their work performance, often related to achieving specific targets or goals.
Gainsharing
A reward system where employees receive financial benefits from improvements in the company’s performance, encouraging collaboration and efficiency.
Gainsharing
A compensation strategy where employees receive bonuses based on the savings or gains achieved by their performance improvements, fostering collaboration and efficiency.
Gainsharing
A performance-based compensation strategy where employees are rewarded for contributing to improved operational efficiency, leading to cost savings which are shared with employees.
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