Gain and Profit-sharing plans
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The CEO of your organization stops you in the hallway and inquires about gain-sharing. It is clear to you that he is mixing up gain-sharing and profit-sharing concepts. You suggest that you meet with him tomorrow to go over the basics of gain-sharing and profit-sharing plans.
Briefly describe what gain-sharing and profit-sharing plans involve. What conditions should exist prior to implementation to make it easier to implement? What are the advantages and disadvantages of group incentives like gain-sharing and profit-sharing plans?
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Solution Summary
This solution helps with gain and profit-sharing plans. It helps describe what gain-sharing and profit-sharing plans involve. It also discusses the conditions that should exist prior to implementation. It also explains the advantages and disadvantages of group incentives like gain-sharing and profit-sharing plans. The explanation is given in 177 words.
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Gain sharing and profit sharing are two similar, albeit different, programs. Under gain sharing, the company shares increases in productivity or profit directly attributed to the efforts of a group of workers with the workers. For instance, if the company experiences ...
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