BUSINESS ADMINISTRATION
ORGANIZATIONAL BEHAVIOUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A formula-based group incentive plan in which employees share in an organization’s financial gain from improved performance.
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Stocksharing
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Profitsharing
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Gainsharing
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Labor sharing
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Explanation:
Detailed explanation-1: -a formula-based group incentive plan that uses improvements in group productivity from one period to another to determine the total amount of money allocated.
Detailed explanation-2: -Team incentives help to reward organizational performance, while individual incentives focus on top performers who achieve individual goals.
Detailed explanation-3: -There are four types of gainsharing programs: the Scanlon Plan, the Rucker Plan, Improshare and custom plans. The plans are similar except for the way the bonus is calculated and the level of employee involvement required to support the plan.
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