DocumentCode :
480401
Title :
Profit-Sharing as a Catalyst for Recognition of Oil Company Employees in Ecuador
Author :
Fan, Luo ; Cevallos, N.E.
Author_Institution :
Sch. of Manage., Wuhan Univ. of Technol., Wuhan
Volume :
5
fYear :
2008
fDate :
12-14 Dec. 2008
Firstpage :
718
Lastpage :
720
Abstract :
The purpose of this paper is to analyze the current financial employee participation scheme in Ecuador. Private companies, according to the law, have to pay fifteen percent of their profits to employees. In some companies this procedure represents a minimum benefit to employees. However, in the Ecuadorian oil industry this matter is relevant and mentioned in the hiring process as the most important part of employees´ compensation. Using references and data from different industries in the Ecuadorian market, this paper provides an analysis of this scheme as a mechanism of recognition and motivation for employees in private oil companies established in the country.
Keywords :
incentive schemes; personnel; petroleum industry; Ecuadorian market; Ecuadorian oil industry; employee compensation; employee motivation; financial employee participation; hiring process; private oil company; profit-sharing; recognition program; Computer science; Conference management; Engineering management; Fuel processing industries; Government; Humans; Petroleum industry; Remuneration; Software engineering; Technology management; employee motivation; profit-sharing; recognition program;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Computer Science and Software Engineering, 2008 International Conference on
Conference_Location :
Wuhan, Hubei
Print_ISBN :
978-0-7695-3336-0
Type :
conf
DOI :
10.1109/CSSE.2008.128
Filename :
4723003
Link To Document :
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