GK
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ESOPS sharing
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Profit sharing
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Gain sharing
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All of the above
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Detailed explanation-1: -The most widely used program of this kind is profit sharing. Profit sharing is a company-wide pay-for-performance plan that uses a formula to allocate a portion of declared profits to employees. Typically, profit distributions under a profit-sharing plan are used to fund employee retirement plans.
Detailed explanation-2: -What is a gainsharing program? On a tactical level, a gainsharing plan is simply a group incentive plan-a pay for performance pro-gram-under which employees as a group earn bonuses for cooperating to improve plant performance.
Detailed explanation-3: -Incentive plans are a type of employee compensation structure that uses certain rewards to motivate team members to work harder and achieve specific goals. This type of compensation goes beyond the paycheck and benefits that all employees should receive for the hours they work.