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How to implement incentive plans

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Reference no: EM132886860

Discuss and Explain well How to Implement Incentive Plans:

  • Pay for performance tied to successful achievement of critical business goals.
  • Link incentives to other activities (career development).
  • Link incentives to valued measurable competencies.
  • Match incentive to company culture.
  • Keep group incentives clear and simple.
  • Over communicate to recognize employee contributions.
  • Meaningful work can be as motivating as financial rewards.

Reference no: EM132886860

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