Discuss in a 250 words each and use APA format:
1. Employers can use a variety of individual incentive programs to contribute to their compensation strategy. Which of the four types of individual incentive plans would you prefer? Explain your choice. What are the advantages and disadvantages of the individual incentive programs? Do you prefer an individual incentive program or a group incentive program? Explain your choice
2. Identify and explain the five key factors employers should consider when designing an incentive pay plan. Why are they an important consideration of the process? Do you need all five to be successful?
3. Should more employers utilize the person-focused pay plans? Why, or why not? What are the advantages and disadvantages?
NEED IN-TEXT CITATION
Reference:
Martocchio, J. J. (2013). Strategic compensation: A human resource management approach (7th ed.). Upper Saddle River, NJ: Prentice Hall.