Individual incentive plans are less preferable than group incentives and companywide incentives
Group Bonus Incentive Plan
Help to build a unity amongst the workers, therefore a more work friendly environment.
Eliminates the segregation between high bonus earners and low bonus earners. This helps to reduce the uncertainty of future bonus payouts.
Helps individuals of different ages to learn new skill sets from their peers through group bonding.
Improves the overall morality of the workers.
Help to create a brand image that may be attractive to potential new employees.
Team competition will drive the members in the group to reach deeper into their skill sets to make the group succeed.
Paying bonus' as a team encourages them employees to work together to improve...
Excerpt from file: Individual incentive plans are less preferable than group incentivesandcompanywideincentives GroupBonusIncentivePlan Advantages *Helptobuildaunityamongsttheworkers,thereforeamoreworkfriendly environment. *Eliminatesthesegregationbetweenhighbonusearnersandlowbonusearners.
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