Incentive Strategy Formulation Process  Organizations should first understand the need of incentive plans. They should set clear objectives as of why
{"Image DocumentName": "Incentive Strategy Formulation Process", "Image ImageDescription": "\u00b7 Organizations should first understand the need of incentive plans. They should set clear objectives as of why incentive plans are formulated, what are the objectives. These objectives should be in alignment with. organizational goals and objectives. \u00b7 Various options for individual and group incentive plans should be explored. \u00b7 Benefits and disadvantages of each plan should be considered and from the various options available one incentive plan should be chosen. \u00b7 Using the best incentive plan, compensation strategy should be formulated.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}