I will pay for the following essay Incentive Pay Plans. The essay is to be 1 pages with three to five sources, with in-text citations and a reference page.
make the plan successful, the management should convince employees of the benefits associated with the incentives and encouraging the participation of employees in coming up with the plan. As suggested by Martocchio, there should be objective performance indicators “to determine whether an employee will receive” the incentive “and the amount of increase warranted” (2011, p.62).”
In the financial industry, particularly in sales and marketing, individual incentive pay plan would be effective. For example, insurance agents paid on commission based on the volume of business they bring could be motivated to sell even more by introducing an incentive for those that surpass their targets where they would be rewarded with additional