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There are a range of incentive plans for individuals and groups or teams. Think like an...

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General Management

There are a range of incentive plans for individuals and groupsor teams. Think like an HR director who is responding to a worksituation with a pay solution. Consider different types of payplans along with their advantages and disadvantages.

Complete the following:

Select one individual plan, one team plan, and one long-termincentive plan.

Describe a situation in which each of these plans would be mostappropriate, and justify why it is appropriate. In yourdescriptions, include the type of company and type of work as wellas the position or positions that would be affected by yourplan.

Answer & Explanation Solved by verified expert
4.2 Ratings (729 Votes)
Part 1 Incentive plans play as an important tool for motivating employees Being the HR director who is responding to a work situation with a pay solution Some of the incentive pay plansthat I will consider are as follows Bonuses As a token of appreciation cash reward is given this is known as bonus It has both advantages as well as disadvantages Advantages It motivates employees It improves performance It improves employees morale It helps in retaining    See Answer
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