Asked by Sabrina Mitchell on May 02, 2024
Verified
Each year, Save-A-Lot Market managers select three employees to receive a one-time reward of $300 for exceeding performance standards. The annual reward has become a highly visible motivational tool within the company. This is an example what type of incentive-pay program?
A) insurance benefit
B) profit-sharing plan
C) bonus
D) flexible benefit
Incentive-Pay Program
A compensation strategy designed to reward employees based on their performance or achievement of specific goals.
Profit-Sharing Plan
A plan in which employees receive additional compensation based on the profitability of the entire business.
Insurance Benefit
A payment or service provided under an insurance policy to cover losses or expenses incurred by the insured.
- Explain the significance of motivational strategies and incentive programs in the workplace.
Verified Answer
Learning Objectives
- Explain the significance of motivational strategies and incentive programs in the workplace.
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