Incentive Plans Paper Essay Example | Topics and Well Written Essays - 750 words - 1

fillip Plans Paper - Essay ExampleIt operates in several countries and explores natural products from six continents. ExxonMobils asset traveling bag is large, geographically diverse, and economically robust across a range of business environments. The company holds exploration and return acreage in 36 countries and production operations in 24 countries around the world. (Company profile Upstream, 2007).attractive(a) incentive and remuneration plans are essential for attaining company targets and throwing qualified executives and employees. Appropriate and adequate incentive plans, if mighty implemented, will motivate employees and will increase productivity. The right incentive plan properly implemented offer motivate employees, increase productivity and allow the employer to differentiate pay given to high performers. (Performance plans Performance establish incentive plans, 2007).Managers have developed death penalty measurement tools and assess the successful decision mak ing variables which is polar to the organizational objective. Performance is evaluated individually to reward individual performance.In an organization, performance can be of both(prenominal) individual as well as corporate. ExxonMobil offers performance based rewards on attaining individual responsibility. Individual performance is the ability of the executives to implement business plans and to meet unanticipated events towards the objective of organization. ExxonMobil provides base compensation for all executives, including the CEO. ExxonMobils compensation plan is designed in such a way that it rewards and motivates the executives which helps in retaining the best talents in the organization. The event that success of an organization depends on developing, motivating and retaining best talents who have the skills, abilities and expertise to lead a Gordian global organization. ExxonMobil is proved to be successful in their incentive plans which are designed to motivate, devel op and retain