An organization wants to provide its employees information about what its goals are and what it expects employees to accomplish. It is planning to implement an incentive plan that helps employees understand the organization's goals. Which plan should be used by this organization?
A) a retention bonus
B) a piecework rate system
C) a merit pay system
D) the Scanlon plan
E) a balanced scorecard

Question

Quizplus · Accepted Answer

The balanced scorecard is a tool used by organizations to communicate their goals and objectives to employees. It helps employees understand what the organization values and what is expected of them, and it aligns individual performance with the organization's strategic goals. Implementing a balanced scorecard incentive plan would be appropriate for this organization's needs. Retention bonuses, piecework rate systems, merit pay systems, and the Scanlon plan are all types of incentive plans, but they do not provide the level of goal alignment and communication that a balanced scorecard can offer.

An Organization Wants to Provide Its Employees Information About What