12 And Financial Incentives Pay For Performance
12Pay for Performanceand Financial IncentivesModule 12-1
Learning Objectives1. Explain how you would apply fivemotivation theories in formulating anincentive plan.2. Discuss the main incentives forindividual employees.3. Discuss the pros and cons ofcommissions versus straight payincentives for salespeople.Module 12-2
Learning Objectives4. Describe the main incentives formanagers and executives.5. Name and define the most popularorganization-wide variable payplans.6. Outline the steps in designingeffective incentive plans.Module 12-3
Money and MotivationStrategyPerformanceIncentive PayModule 12-4
Explain how you would applyfive motivation theories informulating an incentiveplan.Module 12-5
Motivation and Incentives Maslow’sHierarchy ofNeedsModule 12-6
Motivation and IncentivesHygiene Herzberg’sTwo-FactoryTheory Deci andMotivatorsdemotivatorsModule 12-7
Motivation and Incentives ExpectancyTheory, VictorVroomModule 12-8
Motivation and Incentives Behavior modification Incentive pay terminology Employee incentives and the lawModule 12-9
Review Money and motivationMotivation theoriesIncentivesTerminologyThe lawModule 12-10
Discuss the main incentivesfor individual employees.Module 12-11
Individual Employee Incentiveand Recognition Programs Piecework plans Merit pay as anincentiveo Straightpieceworko Standard hourplanso Pros and conso Differential payincreaseso Merit pay optionsModule 12-12
Individual Employee Incentiveand Recognition Programs Incentives for professional employees Nonfinancial and recognition-basedawardso Incentives managers can use Online and IT-supported awards Job designModule 12-13
Review PieceworkMerit payIncentives for professionalsNonfinancial rewardsOnlineJob designModule 12-14
The Pros and Cons ofCommissions vs. StraightPay Incentives forSalespeopleModule 12-15
Incentives for Salespeople Salary planCommission planCombination planMaximizing sales force resultsHow effective are your incentives?Module 12-16
Review Types of salesincentives Maximizing results EffectivenessModule 12-17
Describe the main incentivesfor managers and executives.Module 12-18
Incentives for Managersand Executives Strategy and the executive’s long-termand total rewards package Sarbanes-Oxley Act Short-term incentives, annual bonuso Eligibilityo Fund sizeo Individual performanceo FormulaModule 12-19
Incentives for Managersand Executives Strategic long-term incentiveso Stock optionso Stock option problemso Other stock planso Ethics and incentives Other executive incentivesModule 12-20
Review Strategy and long-term incentivesFederal lawShort-term incentivesStrategic long-term incentivesOther incentivesModule 12-21
The Most PopularOrganization-wide VariablePay PlansModule 12-22
Team & Organization-wideIncentive Plans Designing team incentiveso Engineered standardso Pros and cons HR inequities that undercut teamincentivesModule 12-23
Team & Organization-wideIncentive Plans Profit-sharing plansScanlon plansOther gainsharing plansAt-risk pay plansEmployee stock ownership plansModule 12-24
Review Team incentivesInequitiesProfit-sharingScanlon and gainsharingAt-riskESOPsModule 12-25
The Steps in DesigningEffective Incentive PlansModule 12-26
The Five Building Blocks ofEffective Incentive Plans Common mentModule 12-27
dule 12-28
incentive plan. 2. Discuss the main incentives for individual employees. 3. Discuss the pros and cons of . The Pros and Cons of Commissions vs. Straight Pay Incentives for Salespeople . Module 12-16 . Scanlon plans Other gainsharing plans At-risk pay plans Employee stock ownership plans .
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type of employer (e.g. nongovernmental organisation, public or private). Incentives can be positive or negative, financial or non-financial, tangible or intangible. Financial incentives are integral to the employment contract. Financial incentives involve “direct monetary payment from employer to employee” (Kingma, 2003 p.3),
2009 states, incentives are the direct and indirect benefits offered to teachers as motivators. Incentives may be positive or negative; a negative incentive is referred to as a disincentive. Teacher incentives further can be classified in two forms: Monetary and Non-Monetary. Monetary incentives primarily include Salary, Cash Bonus, and Allowances.
Pay" by that number, e.g. if paying one week's pay plus two weeks holiday pay, deduct three times the "Free Pay" from the total pay to arrive at the taxable pay for that three week period. If the code is higher than those used in the Tables, the "Free Pay" may be determined by adding the Free Pay from two codes together, e.g. Code 1800
incentives, and reviewed the case study of Norway, the world leader for PEV uptake. This case study showed clearly that financial incentives, and particularly reductions in up-front purchase costs, are the incentives that impact most strongly on PEV purchase decisions, and that non-financial incentives play a supporting rather than leading role.
Financial incentives for teachers can be effective if appropriately designed, but poorly designed incentives yield little benefit. Policymakers should avoid threshold-based incentives, such as meeting a target or doing better than other teachers, and instead favor systems based on incremental improvements in student performance.
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