Asked by
Cheyenne Tindall
on Nov 18, 2024Verified
Piecework, bonuses, and commissions are all types of individual incentive plans.
Piecework
A type of incentive system that compensates workers for each unit of output.
Individual Incentive Plans
Compensation strategies designed to reward employees based on their individual performance and achievements.
Commissions
Earnings based on a percentage of the sales made by an employee or agent, as a form of incentive pay.
- Distinguish between different types of individual incentive plans and their applications.
Verified Answer
BI
Learning Objectives
- Distinguish between different types of individual incentive plans and their applications.