Purpose

This assignment is intended to help you learn to do the following:

• Examine multiple methods of compensating groups of employees by linking pay to business performance.
• Identify key elements for short-term and long-term incentives for organizations.
• Describe short-term and long-term incentive plans for individuals, teams, and for people with special skills.

Action Items

• Research methods of creating incentive plans for groups (or teams) and long-term incentives in an organization.
• Examine what elements contribute to their success.
• Examine differences and similarities between different group incentive plans and long-term incentives and those used mainly for senior executives based on profit sharing, gain sharing, etc.
• Paper describing the key factors in the design of individual, team, and group short and long-term compensation and incentives in organizations and how the plans link pay to business performance. Highlight the advantages and limitations of each of the incentive plans. Include at least three academic resources.