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Hardworking of employees are rewarded financially by most of the companies and grant extrinsic rewards like salary, bonus, performance-based incentive plans, commission etc. Meantime the intrinsic rewards like job enlargement, rotation, work safety and security, appreciation are provided for the employees. An employee that has been rewarded is often more motivated to remain with the company.
Wiki User
∙ 6y ago
Wiki User
∙ 10y agoCompanies need to pay incentives to employees because it boosts morale and performance. When someone feels valued by an employer, it is more likely that person will want to produce for the company. While it is an extra cost to provide rewards, overall, the company becomes more profitable when employees are driven and happy. Paying incentives also helps attract quality prospects and encourages employees to stay loyal to a company.
Wiki User
∙ 14y agoits extremly important to constantly motivate the employees ..its important bcos not only to do their best but also make them feel that ..the employee is most needed to the oraganization ..and also make him comfortable within the organization ..for this nothing comes equal than motivation ...but one should keep a check on the level of motivation ..in the name of motivation one should not pressurise the employee..there should be an healthy motivation..care for the employee ..
Wiki User
∙ 11y agoWhen compensation planning for employees one should take into consideration the eligibility of any potential claim, how this would affect the business and the outcome. Also any financial costs including court costs and liability of the claim or claims.
Wiki User
∙ 7y agoIf the employees are satisfied with the benefits provided to them then they won't leave the company forever. But when they qualified than the existing staff then company pay less salary. At this time employee becomes unsatisfied. So its important to pay attention towards the satisfaction of employee benefits.
Wiki User
∙ 15y agoYour pay, wage or salary that you are paid regularly, for the work you do for an employer.
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What is a ten letter word meaning incentive pay for an employee?
enticement inducement
Does an employer have to pay for all employee health care?
No (he or she) does not. The employer doesn't have to pay any of it at all. If it is offered, it is an incentive to attract the best employees.
What is the difference between incentives and benefits?
benefit forms a part of the basic salary, the health insurance etc..It is the pay for an employee's work. incentive is an extra that an employee gets (commision) when he achieves certain targets.
What exactly is an incentive stock option?
A incentive stock option is a employee stock option that can only be done by employees. This option causes the employees to pay less on their income taxes.
What is a w-2?
For example- suppose a company xyz hires employee y to fulfill his company's requirement or hire him to fulfill any other company's requirement Then employee will get his pay directly from the company. In other words, employee is hired directly on the pay role of a company.
What is the difference between incentive and commission'?
incentive is usually pay above ur base pay and commission is a percentage of what the company makes that is ur pay... incentive u will draw a check even if u dont sell... commission u dont sell u dont get a check
Why do comapanies have to pay income to stockholders as dividends?
As incentive for people to buy stock in that particular company
What is the employee incentive program for Boeing?
The employee incentive program provides cash bonuses of between 1 and 20 days of additional pay to eligible employees if Boeing achieves annual economic profit objectives. Currently, more than 114,000 nonexecutive employees are eligible.
Can employee pay be bankrupted in a bankruptsy?
Yes, because the company that they work for and the employee are 2 different inities
What is the difference of monetary and non-monetary incentive?
monetary relating to moneyIndividual Incentives-incentive‐based pay plan that rewards individual performance.Bonus-Individual performance incentive in the form of a special payment made over and above the employee's salarynonmonetary not relating to moneyFlexible Hours.Holidays.Job PromotionRecognitionIndependence and Autonomy.
Can an insurance company deny health benefits to a spouse if they are employed?
Typically, if a person is insured under a company's group insurance plan it is up to the company as to how much of the premium the company wants to pay toward the employee's insurance. If the employee has a spouse it is also the choice of the company as to how much, IF ANY, the company will pay toward the spouse's premium. The company is not required to pay anything toward the cost of the spouse or children. In many cases, the spouse and children. or more precisely, the employee him/herself. must pay the additional premium.
If an employee is on his way to work and driving a company car and has an accident is the employer liable?
In most cases, the company's insurance carrier will pay for damages, as long as the fault causing the accident was not caused by the employee. The employee here is representing the company in this case - if the employee is charged with negligent driving and was cited for causing the accident, the company insurance carrier will most likely pay, but will seek restitution from the employee. Could get into a real sticky situation.
