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What else can I help you with?
Where can I learn more about incentive compensation?
There are many websites devoted to HR issues. Many of these sites deal with compensation and driving performance and rewarding incentive.
What is the purpose of a sales incentive compensation plan?
The purpose of sales incentive compensation plans is to influence a company's sales reps. To be successful these plans must provide strong incentives with short quotas.
What companies or jobs use incentive compensation to encourage productivity?
Incentive compensation at work could take the form of a sales commission, recruiter bonus, or executive compensation plan, just for starters. Pharma companies use this method of motivation and reward. Genzyme is one business that launched such a plan for its execs.
Disadvantages of Compensation Management?
The disadvantage of a compensation would be not receiving any kind or amount of compensation and you would not have anything in your hand. The benefit would be in receiving an amount of compensation for any reason or purpose and having some usable amount in your hand that you can use for all of the necessary living expenses and any thing else that you would to choose to use the compensation plan amount for.
What is included in incentive compensation plans?
In incentive compensation plans there are many things included such as rewarding employees for their hard work, such as hours spent at work or overtime. Rewards can be directly linked to phone usage, for example, and can include instantly redeemable rewards controlled by the employer.
What was the first individual incentive identified by the Treadway Commission?
Individual incentives include falsely reporting results in order to achieve targeted results for bonus or incentive compensation purposes.
What is another word for the word rewarded?
prize, recompense, payment, repayment, remuneration, incentive, compensation, bonus, return, gift...
What is the reverse of saving incentive?
Debt discouragement would be one antonym for savings incentive. Debt hindrance or debt deterrant are also suitable antonyms for Savings incentive. Deep Debt would also be a suitable antonym for Savings Incentive.
What factors do you consider while planning their incentives?
The incentive portion of an employee's compensation plan should be: 1) Based on something measurable and under the employee's control. 2) Aimed at accomplishing management's goal(s). 3) A significant financial reward in relation to the effort required to obtain it. 4) Realistically obtainable. 5) Graduated so the employee receives some portion of the incentive if they get close to the goal (perhaps they receive 25% of the incentive if they hit 80% of the goal; 50% of the incentive at 90%, etc.) 6) Paid in a timely manner. 7) Evaluate in advance the incentive paid at the highest and lowest level of performance and determine if that produces the desired level of total compensation. 8) The incentive should be designed and presented in such a way that it is motivational to the employee.
What is another word for the Germanic practice of compensation?
Wergild is another term used to describe the Germanic practice of compensation for harm or wrongdoing.
Is incentive pay considered a salary or just year to year compensation for an employee.Also can it be removed from an elected officials payExample the City Council approves and educational incentive pay one year can they remove it from the budget the next?
Yes they can remove it and it is not salary but is taxed as income.
Why would companies have corporate incentive programs?
Companies would have corporate incentive programs in order to make their staff perform better. An incentive offered for good work could be cash or a gift or even a free holiday.
