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Discuss how incentive pay plans – both individual and group – motivate employees to achieve high levels of performance.

Business and Finance

Business and Finance

Discuss how incentive pay plans – both individual and group – motivate employees to achieve high levels of performance.

I need 3 paragraphs for each discussion which is a total of 6 paragraphs. Please keep both separate, address each question and add the references at the bottom of each discussion. Please make sure you check grammar and punctuation errors, as well as quoting and using in text citations. PLEASE make sure you cite the information, do NOT plagiarize and ADD all references. No Cover Page Needed PLEASE INBOX ME IF YOU HAVE QUESTION or need reading material on the assignment!

Part 1 Seniority and Merit Pay

Define the concept of seniority and merit pay plans, including the strengths and limitations of such plans within an organization.  Discuss the job, organizational and/or other factors that should be considered when deciding between the two.

Part 2 Incentive Pay Plans

Discuss how incentive pay plans – both individual and group – motivate employees to achieve high levels of performance. Identify potential weaknesses of these plans and suggest steps that can be taken to make these plans highly effective. Then, choose one industry that either an individual or group incentive pay plan would work best providing support for your reasoning (using personal examples to illustrate your point if possible). Explain your answer.

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Regards,

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