The Most Common Type of Incentive Plan, Which Compares a Worker's

question 63

Multiple Choice

The most common type of incentive plan, which compares a worker's performance against an objective standard with pay determined by his or her own performance, is known as

• A) A profit-sharing plan.
• B) A stock plan.
• C) A gainsharing plan.
• D) An individual plan.
• E) A particularized plan.

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Definitions:

Performance Indicators

Metrics or measures used to assess and analyze an employee's, department's, or organization's effectiveness and performance.

Internal Consultants

Employees or departments within an organization that provide expert advice and services to other parts of the same organization, akin to external consultants but focused on internal needs and challenges.

Non-Comparative

A method or approach that does not involve comparing elements or items with one another.

Rating Scale Method

A method of performance evaluation where employees are ranked on a scale based on certain criteria.