Asked by
Garry Wright
on Nov 06, 2024
Verified
Which of the following is a team- and group-based incentive system that is designed to split the cost savings from productivity improvements with employees?
A) Gainsharing
B) Profit sharing
C) A fixed incentive system
D) A sales commission
Team- and Group-Based Incentive System
A compensation system where rewards are based on the performance of a team or group, rather than the individual performance alone.
Gainsharing
A performance-based compensation strategy that shares the financial benefits of improved productivity, cost savings, or quality enhancements with employees.
Cost Savings
Financial savings achieved by reducing expenses, improving efficiency, or other means, usually within a business context.
- Analyze and distinguish between single-person and collective reward mechanisms, encompassing both profit-sharing and gain-sharing schemes.
Verified Answer
DR
Learning Objectives
- Analyze and distinguish between single-person and collective reward mechanisms, encompassing both profit-sharing and gain-sharing schemes.