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Indicate whether you agree or disagree with the following statement: "Individual incentive plans are less preferable than group incentives and companywide incentives." Explain your answer.

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I agree with the statement. There are many reasons why companies use group incentive plans as opposed to using individual incentive plans. One of the major disadvantages with individual incentive programs is that they have the ability of creating such intense competition between individual employees because the focus remains on the individual. Individual incentive plans have actually been competitive enough to create a hostile working environment. In an individual incentive plan, the main focus of the company, including employees helping to achieve the company's goals and objectives, becomes lost to the wayside due to the level of competition that oftentimes is ...

Solution Summary

The solution examines the statement, Individual incentive plans are less preferable than group incentives and companywide incentives. A side is taken and thoroughly discussed.

This solution is written based on 25+ years of professional experience in the business industry.