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Congratulations!
Congratulations, you have completed Distance Learning Center Course 75: Creating a Variable Pay Plan.
You should now be able to:
- Specify how variable pay plans can lessen the impact of an economic downturn
- Differentiate between different kinds of variable pay plans
- Recognize why incentive plans can fail and what is needed for them to succeed
- Identify the four business life cycles and how they can determine which incentive plans are used
- Specify how to determine which variable pay plans may work in your organization
- Recognize how a variable pay plan can lead to greater employee engagement and organization performance
- Differentiate between piecework, standard hour, measured day work, discretionary bonuses, and gainsharing
- Recognize deferred plans, cash plans, and combination plans
- Specify how to design a large group incentive plan
- Determine employee incentive plan payout allocations
Looking to Benchmark Pay?
See our salary, cost-of-living, and executive compensation data in action.