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

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

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

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