What factors will help you create an effective variable rate (aka incentive) pay plan?

As a new Human Resources Manager, you’ve been tasked with creating (or redesigning) an incentive plan for a common job in your organization. Based on what you’ve learned in class, consider the following:

• What factors will help you create an effective variable rate (aka incentive) pay plan?
• How will you decide whether to use individual employee, work unit/team, organization-wide incentives, or some combination?
• What key performance indicators will determine employees’ variable pay?
• What type of incentive pay-out structure will be most appropriate for this specific job, and why?  How will it motivate employees while maximize organizational success?

Write an initial post that addresses this in detail, using research content to support your answers.