Accounting ABC is a 200-employee Accounting firm located in downtown Toronto. Among the employee base are about 50 Administrative staff, 100 Accountants and 50 staff made up of managers, HR, legal, sales & marketing. Using the above information as your case, answer the following questions, demonstrating your understanding of compensation.

Incentive Plans

 What is an Incentive Plan? When is an incentive plan used and what are the benefits of an incentive plan? List and explain 3 types of incentive plans, including the benefits of each. Which of the 3 incentive plans will you provide to your Accountants? Explain why. Explain the benefit to the employees and the organization to providing this incentive plan to your Accountants. 

Answer rating: 100% (QA)

Answer What is Incentive Plans Under Incentive Plan incentives are provided to employees to work hard The main characteristics of these plans are as follows i Incentives have a direct link to performa... View the full answer