Question

Describe, discuss, and give examples of the various types of incentive programs that an organization can...

Describe, discuss, and give examples of the various types of incentive programs that an organization can offer its employees.

Homework Answers

Answer #1

Below are the few incentive programs that organization can offer its employees.

  • Annual bonus: employee can get the extra bonus annually based on organization performance.
  • Hikes: hikes for an employee is based completely on employee performance and his contribution to organization.
  • Awards/Rewards: awards/rewards given to employee based on the any achievement in the organization.
  • profit sharing: profit sharing allows the employee to take some part of the profit that organization gets.
  • Medical insurance and other medical benefits : These benefits or incentives are given to employees to maintain thier good health.
  • Employee training and development: employee training and development programs helps the employee to enhance the his skills and knowledge.

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