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Pro Tip for Existing Players. Samantha Beckett. Head of Bonus and Promo Evaluation. Choosing the right plan depends on what you hope to achieve; you have to decide which type works for your company and your employees.

There are basically three main categories of incentive plans: individual, group, and company. Individual plans reward each employee based on their own merits and can be tailored to suit each employee.

Group plans depend on the entire team to achieve a goal together to get their incentive. Company plans reward all who work for that company when the company reaches a specific goal as laid out.

Once you have decided on an incentive plan that is right for your company, then you need to create a plan that works for your office.

To do this, you will need to conduct a need analysis. This should reflect your current situation and be tied in with your goals. Once you have set your goals, the next step is to structure your incentive plan; the results should be measurable and objective.

Below are some questions to ask. The answers you come up with will help you identify which incentive plan will work best for you.

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