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 ***** Perrin ***** indicates ***** 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 that are set irrespective of company performance. Today, it often seems like the buzzword of most corporate environments is 'teamwork,' and ***** ********** are often tied to collective group efforts, or ***** ***** *****ganization's success as a whole. But w*****h an individual perform*****ce *****, an employee ********** a personal benchmark, upon ***** h***** or ********** incentive is given or withheld, rather than primarily relies ***** the efforts of others or the company to secure his or her bonus.

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

However, by disassociating incentives 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 may cause resentment between employees who profit and employees ***** do not profit ***** the

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