three commonly used compensation plans are __________.

Question

Quizplus · Accepted Answer

The most commonly used compensation plans are straight salary, straight commission, and a combination of salary and commission. Straight salary is a fixed amount paid to employees regardless of their performance. Straight commission is a payment earned based on the amount of sales made by the employee. A combination of salary and commission is where employees receive a fixed salary as well as a commission based on their sales performance. This plan incentivizes employees to work harder and increases their motivation to sell more.

Three Commonly Used Compensation Plans Are __________