Implement a payment system

a )home Cleaning Inc. wants to implement a payment system that will reward its employees with

extra income when the firm does well financially. The CEO has been informed that there

are profit-sharing plans that can be used. As a compensation expert, explain to the CEO

two different types of profit-sharing plans that can be used. Furthermore, discuss four key

issues that Home Cleaning Inc. needs to consider in designing profit-sharing plans in

general. [20 marks]

b) Following your advice, Home Cleaning Inc. implemented a profit-sharing plan. It is now

one year since it was implemented. Discuss three ways in which the firm can evaluate its

impact.