One Common Feature of All Types of Incentive Plans Is

question 42

Multiple Choice

One common feature of all types of incentive plans is:

• A)an established standard of performance that is used to determine the magnitude of the incentive pay.
• B)a sharing contract between the employees and employers, which stipulates that the losses incurred by the companies will be shared by both employees and employers.
• C)the established formula that specifies the maximum percentage of base pay allocated as incentives.
• D)a risk-sharing plan that increases pay depending upon the turnover rate of a company.

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Definitions:

Planning

The process of making plans for something, involving the creation and organization of a sequence of actions to achieve specific goals.

Drafting Process

The initial stages of writing where ideas are developed, structured, and put into a preliminary form.

Effective Message

Communication that clearly conveys its intended meaning and achieves its purpose with the target audience.

Planning Process

A systematic approach to setting goals, developing strategies, and outlining tasks and schedules to accomplish the objectives.