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

Copyright Notice

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

The ***** Perr***** survey 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 of company performance. Today, it often seems like the buzzword of most corporate environments is 'teamwork,' and ***** incentives are ********** tied to collective group efforts, or ***** the organization's success as a whole. But ***** ********** individual performance modifier, an employee sets a personal benchmark, upon which his or her incentive is given or withheld, ra*****r th***** primarily relies upon the efforts of others or the company to secure ***** or her bonus.

***** benefits of using th***** rewards system is ***** an employee can do stellar work, even if ***** company is failing, and *****is creates an incentive for *****s ***** continue to push themselves to higher *****d higher levels of *****, even ***** they are afraid that the ***** 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 of profit and hopefully generate more good will that brings ***** company into profitability once again.

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


Download entire paper (and others like it)    |    Order a one-of-a-kind, custom paper

© 2001–2016   |   Essays about Customizing Bonus Plans: What is the Individual Performance Modifier that   |   Term Paper Model