Incentive Plans Paper - Incentive Plans 1 Incentive Plans...

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Incentive Plans 1 Incentive Plans Paper Hector Sierra University of Phoenix Mgt/431
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Incentive Plans 2 Incentive Plans The business community has recognized the effectiveness of annual incentive compensation award plans. (Rocco, J.,, “Making incentive plans work in non-profit organizations”). An incentive award program can be a wonderful tool for attracting and retaining top talent, increasing productivity, and ultimately achieving corporate goals. The navy’s incentive plan strongly affects the whole organizations objectives. Sailors, feel more motivated when there are incentives offered to them for performance and such. Like any other organization, the navy offers incentives to all navy personnel the same as civilian organizations. The most common incentive offered to navy personnel is time off, or sometimes recognition such as awards. Due to the set military pay scale, military members are usually not eligible to receive cash bonuses or any type of extra pay. Unlike the civilian sector, the navy’s pay scale based on rank, and time in service and pay-grade differs. The only way to compensate a sailor is to offer more time off. Organizational objective achievement is somewhat affected by sailor morale. A hard-
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Incentive Plans Paper - Incentive Plans 1 Incentive Plans...

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