Writing Assignment: Incentive Plans

Writing Assignment: Incentive Plans

Purpose of Incentive Compensation Plan

The purpose of an Incentive Compensation Plan is to motivate and reward key employees for accomplishing individual performance goals established in accordance with the business targets of the organization and Company (Gaty, 1943).

Incentive Compensation Plan Guidelines

Organization managers nominate key individuals who are crucial for, and have leverage on, the success of the organization to participate in the incentive compensation plan. Nominations must be made prior to the beginning of the plan year

Key employees hired prior to July 1 may be added to the plan for the calendar year in which they ...