For five years, Willard Insurance Group offered $500 bonuses to individuals who identified ways to reduce costs by at least $1,000 per year. In the first year of that incentive program, 31 employees earned the bonus, but last year, only 14 submitted ideas, and only three of the ideas would actually save more than a few dollars. The company's HR director suggests that the company is likely to see more improvement if it replaces individual incentives with a gainsharing plan. Which statement best supports this argument

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18-11-2021
Business

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For five years, Willard Insurance Group offered $500 bonuses to individuals who identified ways to reduce costs by at least $1,000 per year. In the first year of that incentive program, 31 employees earned the bonus, but last year, only 14 submitted ideas, and only three of the ideas would actually save more than a few dollars. The company's HR director suggests that the company is likely to see more improvement if it replaces individual incentives with a gainsharing plan. Which statement best supports this argument

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Parrain Parrain · Answer 1 · 2021-11-22T14:22:49+01:00

Based on the benefits of gainsharing and this scenario, the best statement to support this argument is e. Gainsharing expands employees' thinking beyond their individual interests.

Gainsharing:

Refers to employees sharing from the gains the company gets when it grows
Inspires employees to work together to grow the company

Should gainsharing be implemented here, employees would try to find ways of cutting costs together as this would benefit the entire company and lead to them getting more gains as well.

They would therefore look past individual interests and more towards the growth of the company.

In conclusion, gainsharing leads to employees thinking about more than themselves.

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