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  • Today we will discuss some of the different incentive plans organizations can use for

  • individual employees, sales people, executives and managers, as well as some organization-wide

  • plans. We will not talk about any of the motivation theories discussed in your textbook so be

  • sure to read about them in chapter 12.

  • In order to have an idea of how incentives work, we need to spend some time discussing

  • what motivates people. What motivates you to do things? Not just in work, but in all

  • of the things you do? Is it money, or flexibility in your schedule? Everyone is different and

  • it is important to note that no single motivation technique will work for every employee.

  • Incentives are financial rewards above and beyond regular salary.

  • Frederick Taylor popularized the theory of scientific management and the use of financial

  • incentives in the late 1800s. He believed employees engaged in something known as

  • Systematic soldiering, the tendency of employees to work at the slowest pace possible and to

  • produce at the minimum acceptable level. He believed by providing financial incentives

  • you could motivate people to work harder. What he did not take into account, and which

  • we now know is the Law of Individual Differences, which says people differ in personality, abilities,

  • values, and needs. Thus, people react to different incentives in different ways.

  • Managers should be aware of employee needs and fine-tune the incentives offered to meet

  • their needs. They should also keep in mind that money is not the only motivator.

  • Here are the results of a research study that shows the breakdown of the type of incentives

  • most preferred by employees. As you can see a large majority of employees enjoy travel

  • and would love to have their employer fund a vacation for them. However, not all organizations

  • can afford to do something of this magnitude, especially small businesses.

  • There are many different types of incentive plans and we will briefly discuss each one

  • beginning with individual incentives. There are two main types of individual incentive

  • plans: piecework plans and merit pay. The first individual incentive, piecework, is

  • paying the worker a sum, or piece rate, for each unit he/she produces. There are several

  • pros and cons of piecework. One example of an advantage is that the plan is easily understood.

  • However, there can be problems with the quality of the product produced if the incentive is

  • based on only the number of units created.

  • The other individual incentive, merit pay, is a permanent, cumulative salary increase

  • the firm awards to an individual employee. The raise can be based on the individual's

  • performance alone or on a combination of both individual and organization performance.

  • Here is an example of a merit pay program that is based 50% on individual performance

  • and 50% on organizational performance.

  • You can see that if both the individual and the company have outstanding performance then

  • the employee will receive all of the merit pay and if the employee's performance is good

  • but the company's performance is only marginal then 50% of the total raise possible is granted.

  • When considering incentives for professional employees, the options become more diverse.

  • Things such as bonuses, better pension plans, etc. can be used.

  • Organizations can also use recognition-based rewards. Studies show that recognition has

  • a positive impact on performance, either alone or in conjunction with financial rewards.

  • Combining financial rewards with non-financial ones produced performance improvements almost

  • twice that of using each reward alone.

  • Also, many organizations are using what is known as Online Reward Programs to customize

  • their incentive plans. Online Reward Programs are Internet sites that have a much broader

  • range of products than most employers could offer. Employees build up points and then

  • can pick and choose what reward is most important to them. This customizability makes it much

  • easier to bestow and deliver rewards. Now we should discuss incentives for salespeople.

  • Organizations that employee salespeople have to be use different types of incentives.

  • They can use a straight salary plan, which makes it simple to switch territories or to

  • reassign individuals. However, it can constrict sales and de-motivate high-performers because

  • there is no reward for selling more. Another option is the commission plan. This plan pays

  • salespeople for results, and only for results; thus, they tend to attract high-performing

  • sales people who see that effort clearly leads to rewards. But it may cause them to neglect

  • non-selling duties like servicing small accounts or cultivating dedicated customers. One last

  • option is a combination plan. Most companies pay salespeople a combination of salary and

  • commissions. Combination plans give salespeople a floor to their earnings, and still provide

  • an incentive for superior performance.

  • We also need to discuss incentives for teams. For most team incentive plans a production

  • standard must be set for a specific work group. The members are paid incentives if the group

  • exceeds the production standard. What is most important to remember about team incentives

  • is that you want the individuals to work as a team; therefore, they must be rewarded as

  • a team. If you put people into teams but reward individual performance then the team will

  • never really work because each person will be concerned about their own performance and

  • not necessarily the performance of the group. Businesses must tie rewards to goals based

  • on an overall standard of group performance.

  • While individual and team incentives are important, organizations can also create company-wide

  • incentive plans. One option is the Profit-Sharing Plan. Profit-Sharing involves employees receiving

  • a share of the company's annual profits. In other words the company takes a designated

  • portion of the profits and divides it among its employees. Another option is the Employee

  • Stock Ownership Plans (ESOP). Here a firm purchases shares of its stock for employees

  • so when the organization succeeds, employees are rewarded because the value of the stock

  • increases.

  • Yet another option, known as a Gainsharing Plan, is an incentive that engages some, or

  • all employees. in a common effort to achieve productivity objectives, with any resulting

  • cost-savings gains shared among employees and the company. For example, if you find

  • a way to reduce the amount of paper your organization uses and that saves the company money, then

  • the organization shares a portion of those saving, or gains, with you.

  • Incentives for Managers and executives can be the same as incentives offered to other

  • employees such as bonuses or stock options but when speaking in terms of upper management

  • and executives we are talking about much bigger bonuses and much larger portions of stock

  • that are handed out to these individuals. Almost any incentive plan can be scaled up

  • to the executive level.

  • Today we have discussed the different types of incentive programs organizations can use

  • to increase employee motivation. Now you should have a better understanding of how organizations

  • can supplement an employee's basic compensation with other monetary incentives.

Today we will discuss some of the different incentive plans organizations can use for

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人事管理:報酬とインセンティブ (HR Management: Compensation & Incentives)

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    Grace Wang に公開 2021 年 01 月 14 日
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