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 the Towers Perrin survey identified? Explain it in managerial terms?

The ***** Perrin ***** 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 often tied to collective group efforts, or ***** the organization's success as a whole. But with ********** ***** performance modifier, an employee ********** a personal benchmark, upon which his or her incentive is given or withheld, ra*****r than primarily relies upon the eff*****ts of ot*****s 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, ***** ***** creates an incentive for employees to continue to push themselves ***** higher *****d higher levels of *****, even ***** they are afraid ***** 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 good will that brings the company into profitability once again.

However, by dis*****sociating 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 prof***** because their salaries are deemed lacking in an atmosphere of bounty, this ***** cause resentment between employees who *****it and employees ***** do not profit from the

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