1 page/≈275 words
Business & Marketing
Human Resource: Compensation Plan (Essay Sample)
Please consider if you were building a compensation plan for a team in your organization tasked with delivering on a project that is of critical importance to your organization, please share how you would structure the incentives and basic compensation for the team. Please include if the elements are for the whole team, individuals, would include outside contributors, if the rewards are short term or longer term....and of course include your justification for your proposal. source..
HUMAN RESOURCE: COMPENSATION PLAN
(02 November 2010)
Human Resource: Compensation Plan
Incentive compensation plans are always designed to motivate service professionals to attain goals and strive for excellence. This easy shares how to structure the incentives basic compensation team, and also states whether these elements are for the whole team, individuals, includes outside contributors if results are short term or long term. Lastly it includes proposal justification.
There are many ways of designing incentive compensation plans, though there are universal design features to consider. Incentives may be paid inform of cash, property or benefits. Cash is always the best but depends on the culture of the company. It is mostly short term and may involve both whole team and individuals. Incentives inform of benefits might produce results that are better. The payout need not to be too high than emplo...
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