Description
"Individual versus Group Incentives" Please respond to the following:
- From the e-Activity, compare and contrast the likely success of individual incentives, group incentives, and companywide incentives for improving employee performance.
- Referring to the same company, create an outline for an incentive pay program that would benefit employees and the company / organization. Provide specific examples to support your response.
Explanation & Answer
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Comparing individual, group, and company wide incentives, individual incentives are most likely to have a success due the selfish trait of human nature, preceding group incentives that are powerful due to peer pressure from others to succeed as a group, and, lastly, company-wide incentives.
Incentives outline:
- individual - per every X number of sales of product, a possible bonus, based on amount of sales, will be achieved at different levels
- group wide & company wide are similar, despite sharing the bonus - adding a particularly smaller amount for the most successful in the group or the company
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