Asked by Serena Takhar on Jul 02, 2024
Verified
One of the way to reduce failure in a profit-sharing program is to set clear goals for the program.
Profit-Sharing Program
A company program in which employees receive a portion of the company’s profits, typically as a part of their compensation package, to motivate and reward them for their contribution to the company's success.
Clear Goals
Well-defined, unambiguous objectives that are easy to understand and pursue.
- Appreciate the necessity of designing and assessing the success of pay programs.
Verified Answer
SL
Sangeeta Lunia6 days ago
Final Answer :
True
Explanation :
Setting clear goals for the profit-sharing program helps in establishing a clear understanding among the employees and management about what is expected to achieve through the program. It also enables measuring progress and success of the program, which in turn, reduces the failure chances.
Learning Objectives
- Appreciate the necessity of designing and assessing the success of pay programs.
Related questions
According to the Change Competency: Nucor's Profit-Sharing Program,The Average Nucor ...
More Than One-Third of the Companies That Use Profit Sharing ...
According to the Change Competency: Nucor's Profit-Sharing Program,Nucor's Profit-Sharing Plan ...
A Training Process Is Critical to the Launch of a ...
Merit Pay Systems Are Always Problem Free