Asked by Alyssa Grant on Jun 27, 2024
Verified
Bonus pay plans are one-time or lump-sum payments to employees for meeting performance targets or some other extraordinary contribution to the firm.
Bonus Pay Plans
Compensation methods that reward employees with extra pay based on performance, successful achievement of objectives, or company profitability.
Performance Targets
Specific goals set by a company or an individual to measure the level of success or efficiency in completing tasks or objectives.
- Examine the distinctions within a range of pay and incentive plans, such as foundational compensation, effectiveness-based salary, bonus schemes, share offerings, and distributive earnings sharing.
Verified Answer
IS
Isaac SalazarJul 01, 2024
Final Answer :
True
Explanation :
Bonus pay plans are indeed one-time or lump-sum payments to employees for meeting performance targets or some other extraordinary contribution to the firm.
Learning Objectives
- Examine the distinctions within a range of pay and incentive plans, such as foundational compensation, effectiveness-based salary, bonus schemes, share offerings, and distributive earnings sharing.
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