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 ***** Perr***** survey indicates that 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 ********** are ********** tied to collective group efforts, or to ***** organization's success as a whole. But w*****h ********** individual performance modifier, an ***** ********** a personal benchmark, upon ***** h***** or her incentive is given or withheld, rat***** than primarily relies ***** the eff*****ts of others or the company to secure h***** or her bonus.

***** benefits of using this rewards system is that an employee can do stellar work, even if ***** company is failing, ***** this creates an incentive for employees ***** continue to push themselves to hig***** *****d higher levels of *****, even ***** they are afraid that the company will not meet its own desired revenue targets. The individual per*****mance 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. Furthermore, while it prevents mediocre employees from 'coasting' when the company is doing well, if employees fail to profit because their salaries are deemed lacking in an atmosphere of bounty, ***** may cause resentment between employees who ***** and employees ***** do not profit from the


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