Below are the questions to answer

2. Describe the requirements for effective incentive plans.
4. Distinguish among piecework rate, merit pay, commissions, and standard hour plans.
6. Understand how merit pay increase relates to compensation -ratio.
8. Understand the pros and cons of merit pay.
10. Distinguish among gainsharing, group bonuses, profit sharing, and balanced scorecard.
12. Understand the similarities and differences between stock options and employee stock ownership plan (ESOP).

Answer rating: 100% (QA)

1 Requirements for effective incentive plans Clear and measurable performance goals Incentive plans should have specific achievable goals that employe... View the full answer