MGMT 335 U4 DB Research Paper Example | Topics and Well Written Essays - 250 words

MGMT 335 U4 DB - Research Paper Example One of the main factors to look at when developing a compensation policy would be to create an incentive plan. The most crucial plan would be the pay-for-performance agreement that would have employees rewarded for their ideas, the goals attained and even service to the organization (Phillips & Gully, 2013). Side agreement compensations can also be arrived at when the employer wants results, which are monetary and tangible to the organization. This plan may increase the employees’ motivation and productivity, hence; eliminating all constraints that stand in the employees’ paths. The terms of agreement between the employer and employee may vary and be arranged depending on the effort and purpose of the incentives. Every employee would then have the opportunity to be made like they have an equal chance at compensation and organizational success (Phillips & Gully, 2013). These strategies and plans are meant to increase employee productivity, and in the long run; increase the organizational success. They (employees) may have or feel that they are receiving a non-discriminatory reward for their efforts in the organization, hence; perform to the best of their