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Group incentives are incentives paid to group of employees. But now there can arise a question
why should be groups and not individuals rewarded. There can be more than one answer but all
of them are really easy to get. The basic idea is that not all the employees can be remunerated
following the individual incentive plans. If this situation occurs group incentives plans are
implemented instead. Group incentives are used when it is difficult to measure each individual
employee output, and/or when team work is important. Nevertheless sometimes output is
measurable but impractical or too costly to measure. Simply the performance of unit consisting
of more employees or the whole company matters and is the reason of pay increase or bonuses.
Nowadays there are many group plans used in the real practise but generally their basements are
almost the same in all types of these plans. Most of the group plans are based on a monetary
performance standard. a group incentive plan can help foster relationships between staff
members, encouraging them to find ways to work together in a collective environment in order to
achieve group goals. The approach can build a stronger team, encourage brainstorming and
create a vested sense of project ownership across the board. Staffers know they each must pull
their own weight in order for the team to be successful, which can prevent slacking or
underperformance. Encouragement and even some degree of positive peer pressure can help
ensure
everyone's
strengths
are
utilized
toward
achieving
stated
objectives.