Essay - Customizing Bonus Plans: What is the Individual Performance Modifier that...


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Customizing Bonus Plans: What is the individual performance modifier that ***** Towers Perrin survey identified? Explain it in managerial terms?

The Towers Perrin ***** indicates ***** 62% of companies with organization-wide incentive plans included an individual ***** modifier, in which an employee is measured against pre-established personal goals for the year that are set irrespective ***** company performance. Today, it often seems like the buzzword of most corporate environments is 'teamwork,' and performance incentives are ********** tied to collective group efforts, or to the organization's success as a whole. But ***** an ***** performance modifier, an employee ********** a personal benchmark, upon ***** his or her incentive is given or w*****hheld, ra*****r than primarily relies upon the eff*****ts of others or the company to secure ***** or her bonus.

***** benefits of using th***** rewards system is *****at an employee can do stellar work, even if the company is failing, and this creates an incentive for employees to continue to push themselves to hig***** and ********** levels ***** per*****mance, even ***** they are afraid that the company will not meet its own desired r*****ue targets. The individual performance modifier can act as an obvious morale boost for good employees during flagging years of profit and hopefully generate more ***** ***** that brings ***** company into ********** once again.

However, by disassociating incentives from collective demonstrations of excellence, corporate culture may become more fractured. Furthermore, while it prevents mediocre employees from 'coasting' when the company is ********** well, if employees fail to pr*****it because their salaries are deemed lacking in an atmosphere of bounty, ***** ***** cause resentment between employees who pr*****it and employees ***** do not profit from the

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