Incentive Plans for Farm Bureau Insurance NAME MGT 431 Human Resources Management DATE Incentive Plans for WHATEVER COMPANY YOU CHOOSE Farm Bureau Insurance offers two incentives to employees. The incentives include a yearly bonus and a company vehicle included with 6,000 personal miles a year. The incentive plans of Farm Bureau Insurance relate to the organization’s needs and objectives by keeping premiums as low as possible while maintaining a profit margin to gain revenue. At the end of each fiscal year the loss to gain ratio is evaluated. The outcome of this ratio determines rather or not employees receive a bonus. The incentive plans rely solely on how much premiums are brought in compared to loss ratios. For example, if Farm Bureau were to bring in $100,000 in premiums and had only $30,000 in losses, bonuses would be a definite for all employees that year.