Incentive Plans Short Essay

Anonymous
timer Asked: Feb 3rd, 2019
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Question Description

  • Are incentive plans the same for all positions in a business?
  • Are incentive plans the same for all businesses?
  • What might be appropriate for a new business start-up?
  • Does the business market impact the incentive plan design?

Example: Pharmaceutical vs. Insurance?

single space, Ariel type 10 font. must cite sources.

Tutor Answer

Kishnewt2017
School: New York University

Attached.

Running head: INCENTIVES PLANS

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Incentive plans
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INCENTIVES PLANS

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An incentive plan is a combination of various benefits that an employer extends to employee as a
way of motivating them to increase their productivity, attracting skilled employees, retaining exceptional
employees, or for any other purpose (Iqbal et al., 2015). There are various forms of incentives but every
business, based on its industry and needs, designs an incentive plan to suits its objectives and
circumstances. This paper will examine the different types of incentive plans used for different positions,
different types of businesses and markets, and the suitable plans for new business start-up.
Incentive plans should be structured in manners that reflect the position of every employee for
various reasons. First, every position in the organization is different and presents difference challenges.
For example, executives face different challenges from sales representatives. Secondly, the different
positions correlate to di...

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Anonymous
awesome work thanks

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