Managerial Skills Development Leadership Quiz # 524480110.

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Please answer the following question. You are to type/insert the alphabet in Capital "T" if the statement is
True and Capital "F" if the statement is False (must be in All Cap). Please
be informed there is Strict Negative Marking Enforced and You may Not Exceed The Time Given to Email
Back the Answer Script.
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1 Incentive pay plans attempt to relate pay to performance to reward only average performance rapidly and directly.
Although good performance can be rewarded through the base wage or salary structure either by raising an individual's pay
within the range of the job or by promoting the individual into higher pay grade, these rewards are often subject to delays and
2 other restrictions.
3 Incentive pay plans—are such rewards are often not viewed by the recipients as being ­directly related to performance.
4 Incentive pay plans attempt to strengthen the performance‑reward relationship and thus motivate the affected employee.
Incentive pay plans—the idea is to have employees think of themselves as business partners by sharing the financial risks and
5 rewards of doing business.
6 Another advantage to incentive pay is that it is not permanent and must be earned each year.
Most incentive pay programs tie pay directly to profitability, thus allowing companies grow and shrink payroll expenses in
7 response to the success of the business.
8 Because of minimum wage laws and labor market competition, most incentive plans exclude a guaranteed hourly wage or salary.
9 The guaranteed wage or salary is normally determined from the base wage or salary structure.
10 Incentive plans usually function in addition to, not in place of, the basic ­wage/salary structure.
Basic requirements for an effective incentive plan—concerns the procedures and methods used to appraise employee
11 performance incentives are to be based on performance.
Requirements for an effective incentive plan—employees must believe their performance and the performance of others are not
12 accurately or fairly evaluated.
13 While there are many types of individual incentive plans, none are tied in any measure to the performance of the individual.
At non-managerial levels in an organization, individual incentives are usually based on the performance of the individual as
14 opposed to those of the group or organization.
15 At managerial levels, individual incentives are not based on the performance of the manager's work unit.
The primary advantage of the individual incentive system is that the employees can readily see the relationship between what
16 they do and what they get.
Individual incentives can also cause problems—such as competition among employees can reach the point of producing negative
17 results.
Managerial Skills Development Leadership Quiz # 524480110.xlsx
18 A bonus may be in cash only, not in any other form.
19 A merit pay increase is a reward that is based on performance but is also perpetuated year after year.
20 A positive aspect o: bonuses is that they must be earned each year and the organization is not obligated over the long run.
21 One potential benefit with bonuses is that they can become an extension of salary.
22 Bonus is never viewed as resulting from employees individual performances or from the profits of the organization.
23 A bonus is a reward offered on a one‑time basis for high performance. It should not be confused with a merit increase.
24 By far the most common type of incentive for managerial employees is the annual, or cash, bonus.
25 Serious dissatisfaction can result if the expected bonus is not granted because of a decline in profits or any other legitimate reason.

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