The Abc's Of Incentive Plans

The purpose of this opening paper is to provide an overview of incentives strategies. This overview includes a discussion of the different types of incentives, their advantages and disadvantages and their potential application to the mining setting. Objective The primary objectives of incentive plans are to increase worker (including management) effectiveness and reduce unit labor costs. These plans can be grouped into two major categories: 1) non-financial plans 2) financial plans