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

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

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

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