Total Compensation and Incentive Plans: Pros and Cons
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I need to make some PowerPoint slides on compensation methods and incentive methods for a company. Can you help me with this I liked you work from before with my 5 year career plan.
Also I have to write an outline with full written introduction and conclusion examining how an organization's incentive plans relate to organizational objectives. I also need to evaluate how the incentives plans do, or do not, help the organization to achieve its goals and objectives. Thanks!!!
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Solution Summary
Incentive plans and their effectiveness have been argued about for years as to whether they are effective or not when used as a tool to spur increased productivity. Incentive plans are a fundamental choice that a company will make based on asking themselves some key questions. "How much financial capital do we allocate"? "Will the plan work"? And finally, "what will be the return on our investment"? (Armstrong, 2006). It is the goal of this research to analyze these questions and determine if incentive plans really work.
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Outline Example:
Introduction
Incentive plans and their effectiveness have been argued about for years as to whether they are effective or not when used as a tool to spur increased productivity. Incentive plans are a fundamental choice that a company will make based on asking themselves some key questions. "How much financial capital do we allocate"? "Will the plan work"? And finally, "what will be the return on our investment"? (Armstrong, 2006). It is the goal of this research to analyze these questions and determine if incentive plans really work.
In today's workforce, incentive plans have become commonplace as a tool to spur performance of specific teams or individuals or entire facility's. These incentive plans are generally based on a set of performance factors that the CEO has determined are the best solution for the company's long term success. In addition, the financial resources required to back up the incentive plans has to be something that is approved by the primary stockholders and is agreed upon as a expense worth paying for the return they will relieve on their bottom line through increases in productivity, quality, or other metrics (Forster, 2005).
If an organization approaches setting up a strategy that will implement a compensation incentive plan, they must first understand the principle foundations of incentive plans and their purpose (Armstrong, 2006). Traditionally, companies have viewed ...
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