Profit sharing and gain sharing are two methods of _______________.
A) group incentive plans
B) keeping costs down
C) calculating pay for top management
D) employee retirement plans
E) keeping expense account costs under control

Question

Quizplus · Accepted Answer

Profit sharing and gain sharing are both types of group incentive plans. These plans aim to motivate employees to work towards a common goal rather than just their own individual success. Profit sharing links bonuses or rewards to the overall profitability of the company, while gain sharing links them to specific performance metrics or improvements within a department or team. Both methods can increase productivity and teamwork, leading to overall better business results.

Profit Sharing and Gain Sharing Are Two Methods of _______________