BUS FPX4043 Assessment4 Target.docx BUS-FP4043 Targeting Incentives Compensation &

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BUS FPX4043 Assessment4 Target.docx BUS-FP4043 Targeting Incentives Compensation & Benefits Management Tanisha Barnes Targeting Incentives Incentive programs are primarily used to promote eff... iciency and productivity of the workforce, but they can also be used to enhance recruitment, engagement, retention, and branding[ CITATION SHR18 \l 1033 ]. According to a 2015 WorldatWork survey, 94 percent of the respondents said their organizations offered employee some form of short-term incentives, and 53 percent offered long-term incentives beyond regular pay [ CITATION Wor14 \l 1033 ]. Motivation and engagement with any organization should be one of the key goals to provide to the employees. Each organization will differ in the options they provide to their employees based on size, location, and type of business structure. The following will touch on an option for an individual, group and long-term that can be provided. Individual-Pay for Performance œPay-for-performance compensation is a form of incentive pay program that is based on performance, where an employee is incentivized and rewarded for achieving goals or objectives. Pay-for-performance plans are extremely popular “ according to a 2019 Pay Practices and Compensation Strategy survey, 75% of organizations currently leverage pay-for-performance compensation as part of their overall compensation plan [ CITATION Con19 \l 1033 ]. Depending on the organization™s budget, compensation philosophy, and organizational goals there can be a variety of pay-for-perfo. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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