incentive plans - Select three different incentive plans...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Select three different incentive plans. You may select individual plans, group plans, or a combination. List the pros and cons for each plan. For a position that you envision for yourself in 5 years, which of these three plans would be most appropriate? Explain your answer. Merit Raises Pros : Serve as motivation for employees Cons : Money that is available for merit increases may be inadequate to satisfactorily raise all employees’ base pay. Managers may have no guidance in how to define and measure performance: there may be vagueness regarding merit award criteria. Employees may not believe that their compensation is tied to effort and performance: they may be unable to differentiate between merit pay and other types of pay increases. The performance appraisal objectives of employees and their managers are often at odds. There may be a lack of honesty and cooperation between management and employees. It has been shown that “overall” merit pay plans do not motivate higher levels of employee
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

incentive plans - Select three different incentive plans...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online