1 page/≈275 words
Business & Marketing
Trust Incentive (Essay Sample)
Types of incentives trust and appreciation incentives. Identify each of the incentives and define how it is used with a team source..
TYPES OF INCENTIVES
(January 20, 2012)
TYPES OF INCENTIVES
Trust incentive refers to a legal entity which manages and holds assets for the grantor. This occurs for another person`s benefit. It is normally formed by a senior member of the family to give innovative strategies in wealth distribution to younger generations. The grantor normally uses the provisions of the trust incentive to reward a given beneficiary for attaining a broad range of desired objectives or behavior. The trust also establishes specific requirements on the nature of distributing the money and the use of certain techniques in ensuring that the beneficiary gets financial independence past the money inherited. With the trust incentive, there exist costs which are related with the development and administration of the trust incentive. The time and cost involved in the establishment of this trust are the two factors considered when deciding the appropriateness of the arrangement. The next thing will involve mulling over some given strange drawbacks and advantages of the trust incentive (Huotari & Livonen, 2004).
On the other hand, the appreciation incentive is very essential in any given team. Any system which anticipates winning should appreciate employee behavior and performance in the workplace. Performance is the best to address as it is a direct link between the goals set for the employees and the expected outcome. An example is implementing an incentive of plan to appreciate the top salespeople for achieving periodic goals. Appreciation is centered on expression of gratitude for someone`s actions in a team. Appreciating your workers through acknowledging their good performance and the desired behavior is normally done by simple statements and expressions. An ex...
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