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Variable pay in aerospace and defense engineering companies

Variable pay in aerospace and defense engineering companies This paper presents a discussion on the benefits of utilizing variable pay as a component of employee compensation. Several types of variable pay or variable compensation plans are reviewed. Plans that seem well suited to highly educated, professional employees are examined in detail. Case studies are presented that illustrate how variable pay or compensation has been applied by a variety of for‐profit aerospace and defense engineering organizations. These case studies are followed by a description of a small class of non‐profit aerospace and defense engineering organizations known as Federally Funded and Design Centers (FFRDCs). Two variable pay plans that appear to be the most appropriate for the FFRDCs are recommended. A modified gainsharing group vehicle pay plan is recommended. A complementary individual skill‐based variable pay element is also endorsed. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Aircraft Engineering and Aerospace Technology Emerald Publishing

Variable pay in aerospace and defense engineering companies

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Publisher
Emerald Publishing
Copyright
none
ISSN
0002-2667
DOI
10.1108/00022669810202435
Publisher site
See Article on Publisher Site

Abstract

This paper presents a discussion on the benefits of utilizing variable pay as a component of employee compensation. Several types of variable pay or variable compensation plans are reviewed. Plans that seem well suited to highly educated, professional employees are examined in detail. Case studies are presented that illustrate how variable pay or compensation has been applied by a variety of for‐profit aerospace and defense engineering organizations. These case studies are followed by a description of a small class of non‐profit aerospace and defense engineering organizations known as Federally Funded and Design Centers (FFRDCs). Two variable pay plans that appear to be the most appropriate for the FFRDCs are recommended. A modified gainsharing group vehicle pay plan is recommended. A complementary individual skill‐based variable pay element is also endorsed.

Journal

Aircraft Engineering and Aerospace TechnologyEmerald Publishing

Published: Apr 1, 1998

Keywords: Aerospace industry; Compensation; Defence; Employment; Gainsharing; Variable pay

References