SlideShare a Scribd company logo
1 of 78
Download to read offline
Incentive Compensation
The pay–for–performance incentive compensation program is designed to measure the variations of
the healthcare professional performance, as well as motive them in improving the efficiency and the
quality of care provided to patient by decreasing medical errors (Abduljawad & Al–Assaf, May
2011). Healthcare professional are given incentives based on good medical outcome and exceptional
performance. It is an effective compensation program, because it improves retention, as well as
attract new healthcare professionals to the organization; therefore, by giving healthcare
professionals an incentive, they are more likely to remain engaged with their profession, because the
feel satisfied with their work and that their skills and performance is valued
... Get more on HelpWriting.net ...
Are Deadlines An Incentive Essay
Are Deadlines an Incentive?
Procrastination nation has taken its toll on students all across the world. In Los
Angeles, StudyMode, an ed–tech company designed to help students succeed in school,
conducted an experiment on procrastination asking approximately 1,300 high
school college students about their study habits. "The findings show that procrastination
is widespread, with 87 percent saying they procrastinate, and that it's affecting their
performance–45 percent report procrastination negatively impacts their grades on at
least a fairly regular basis" (StudyMode). These numbers alone indicate that students end
up leaving their assignments till the last minute, having to rush through it in order to
reach the deadline, resulting in a low grade. Deadlines are key to an assignment because ... Show
more content on Helpwriting.net ...
With the
knowledge that assignment is accomplished around the last hours before the deadline a
new question is raised. Is it smart to make the deadline so late in the night?
Alan Ward conducted a study claiming that since most students hand in their
assignment right around the deadline would it be smart to make the deadline late
... Get more on HelpWriting.net ...
Ath Technologies Inc.: Making the Numbers
ATH Technologies Inc.: making the Numbers
The case of ATH is centered on management taking particular strategic paths in order to achieve the
desired organization objective(s).
Beginning with the strategy of acquiring market share, Scepter implemented very attractive
(personal) incentives in order to achieve this goal. These "earn out" incentives did indeed push for
innovation, growth and market segment but it didn't put any controls on the amount of spending,
thus ultimately leading to major losses. The incentives focused more on personal gain i.e.: "Make
the company look good at what ever cost so I can get the pay out" sort of notion. It is a good scheme
in terms of promoting for continuous developments and to share know–how and make ... Show more
content on Helpwriting.net ...
It would have been good if this fundamental vision was in place right at the very beginning of the
company's formation. In the end it is the customers that make the company, so it makes sense to
work towards satisfying this customer relationship. To become profitable and achieve market share
are secondary objective that can be measured on a annual basis and overall company well being
targets can be rewarded with incentives that link into the company's performance as opposed to
individual contribution to the company's success.
Instead of jumping to different achievement goals as problems arise, the visions and beliefs should
have been determined first and that would help shape the overall goal of the company. While
working towards goals such as profitability and growth, the visions and beliefs help keep employees
in line and to some extent control the minimum expectations of the development of products, thus
possibly lessen or avoid problems that did arise. The incentive scheme were not properly designed
to take into account effects of employee actions and the impact it would have on the company as a
whole and other stakeholders. It should some what reflect and reiterate these visions instead of
promoting and motivating employees to be self interested in their own affairs and achieving the
targets at "all costs". All in all, there were minimal controls and checks in place, it was more of a
one way push towards the goals and not looking back
... Get more on HelpWriting.net ...
Creating A Winning Employee Recognition Culture
12 Powerful Tips to Build a Winning Employee Recognition Culture About 65 percent of the people
in one survey reported that they received no recognition over the last 12 months for their work.
[Baudville.com: Top 12 Employee Appreciation Statistics
https://ideas.baudville.com/h/i/200247240–top–12–employee–appreciation–statistics] In the same
report, 89 percent of employers feel that most employees leave their companies to earn more money.
However, most workers who leave their jobs cite lack of appreciation as a major reason for seeking
other opportunities. HR departments, which are challenged to recruit and retain the best people, are
the prime movers for implementing a culture that recognises employees, motivates them in their
jobs and rewards them with essential psychological rewards that extend far beyond material
incentives. Spending money on routine company gift cards isn't the same as offering personalised
and specific praise based on an employee's performance. Gifts and incentives can reinforce any
verbal praise, but providing honest and thoughtful recognition is one of the most critical things
leaders and HR departments can do to foster a positive company culture where people enjoy
working. Organisations with the most effective recognition strategies have 31 percent lower
turnover rates due to voluntary migration of staff members. [Officevibe.com: Employee
Recognition: The Complete Guide https://www.officevibe.com/employee–engagement–
solution/employee–recognition]
... Get more on HelpWriting.net ...
Old Testament: Incentives From Scripture
Incentives from Scripture In economics, the meaning of incentives implies that this is the tool to
inspire people to behave as predicted by those who make those incentives (James D. Gwartney,
2016). In another words, incentives are the motivations that make people to do some things more
than others. In economical level, incentives make people to prefer one product over other based on
the difference on their prices. The Bible is the guideline for Christians about morality, motivating
believers to act in certain way (Williamson, 2005). One of the main incentives of the Old Testament
was to act certain way to achieve salvation, which, however, changed in New Testament with
coming of Jesus Christ. In the Old Testament times, people of God must
... Get more on HelpWriting.net ...
Mary Parker Follett 's Leadership
Mary Parker Follett had approached management in a different view than most managers of her
time. Rather than seeing conflict as just that, a conflict, she thought a conflict could be a good thing.
Mary believed that managing was not about dominating the employees, nor compromising with
them but rather stating each of the preferences a person holds and striving to meet each of the
personal needs together. She also believed that when a manager is giving orders, they need to
thoroughly discuss the instructions as well as deal with resentment. Chris Kolbe believes his
authority comes from his commitment to the company and his team, the way he approaches things
and his performance. Kolbe states he draws it from what he does every minute, in how he
communicates with his employees, and his directness. It seems as though Kolbe and Follett had
similar managerial practices. Follett thrives for a work place where each person can express their
personal preferences yet being respectful and mindful of those around them. Kolbe creates a work
environment where each employee feels safe and enjoys working with him. He allows each
employee to express their ideas and be their own person within the business. By putting each and
every employee into the broader picture, they have a sense of belonging. This creates a thriving
business. Also, Follett goes on to state that a manager needs to be direct and thorough about what
needs to be done. Kolbe has these one on one talks with his employees
... Get more on HelpWriting.net ...
Incentives: The Case Of Rugged Wrestling In Japan
An incentive, as defined by the author is "a means of urging people to do more of a good thing and
less of a bad thing." Incentives, and how people respond to them, are the corner stone in
understanding human behaviors and modern life. In this chapter, the author has identified the three
basic varieties of incentives; economics, social, and moral (Levitt and Dubner 17). Economics
incentives are those which a person responds to the marketplace due to their individual financial
interest. Social incentives are more related to actions which determine a person's social recognition
in the society, whether it is shame or glory. The moral incentives, on the other hand, comes out of
the conscience or conviction; a person's sense of right versus wrong. ... Show more content on
Helpwriting.net ...
Just as the street crimes per capita in cities are a lot higher than those in rural areas, theft incidents
are more likely to happen in big offices than in small ones, as chances of being caught are higher in
small offices as well as stronger social incentives in such a small community. More surprisingly,
Feldman also found out that employees higher up in the cooperate hierarchy cheat more than normal
employees. One reason might be due to their sense of entitlement, and their morale towards "white
collar crimes" in which cases they can easily get away with their authority (Levitt and Dubner 45).
His findings might explain the mechanism of the corrupted cooperative businesses, as well as in
politics, where people with more authority are less likely to be detected using company's
... Get more on HelpWriting.net ...
Short Term Incentive Pay System
Short Term Incentive Pay
A survey report for publicly traded companies administered by WorldatWork found that 99 percent
of the 350 companies had some form of short term incentive pay system in place (Miller, 2014).
Short term incentive pay compensates employees for achieving short term business goals that are
typically a year or less. These goals can depend on factors such as the type of business, its specific
strategy, and market conditions to name a few. Metrics for short term incentive plans can include
financial metrics like revenue growth and profit maximization as well as non–financial metrics
specific to the company, such as safety or quality assurance, customer satisfaction, and more (Fotsch
& Case, 2015). Short term incentives normally reflect a percentage of the employee's salary or
wage; there are threshold, target, and maximum levels that can be achieved providing different
levels of compensation based on outcome. Short term incentive pay can involve individual
employee performance, or group & company wide performance. Some examples of short term
incentive pay include merit pay, bonus pay, and profit/gain sharing. Understanding the specific
processes and benefits of these types of short term incentives allows employers to choose which
plan saves the company the most money in terms of productivity and reduction of turnover.
Individual Short Term Incentive Pay
Over half (55%) of publicly traded companies offer an annual incentive plan or bonus plan to
... Get more on HelpWriting.net ...
Employee Progress-Based Incentives
Incentives are a great way to motivate employees to partake in wellness initiatives. Employees want
to know that there will be a guaranteed gain for their participation. However, there are a number of
laws and regulations at the federal and state level that impose requirements and regulate the use of
financial incentives in certain types of wellness programs. The reward must be available to all
similarly situated individuals. For instance, Weisberg (2013) explained that the program must allow
a reasonable alternative standard (or waiver of initial standard) for obtaining the reward to any
individual for whom it is unreasonably difficult due to a medical condition, or medically
inadvisable, to satisfy the initial standard. As a result, employers ... Show more content on
Helpwriting.net ...
Steps can include enrolling in a weight–management program and reducing body mass index
(Wieczner, 2013). Employers usually give employees about $100 for reaching a healthy weight
(Wieczner, 2013). Employees appreciate progress–based incentives because it motivates them to
improve their health instead of being penalized for not meeting a healthy weight. However,
employers should understand that there can be complex reasons why an employee is over–weight or
obese therefore, even progress–based incentives may not be enough to make an employee reach a
healthy weight. Lastly, employers used targeted incentives to encourage healthy behavior.
Employers or insurance companies crunch employees' health–risk, claims and other data to offer
personalized wellness programs and incentives to employees (Wieczner, 2013). Incentives typically
range from $100 to $125. The programs are personalized to increase participation among those who
will benefit the most, however some employees may feel personalized interventions are intrusive
and compromise their privacy (Wieczner, 2013). As a result, employers should survey employees
before including targeted incentives in its wellness
... Get more on HelpWriting.net ...
Financial Incentives For Improving Quality Of Care
In the early 2000s, serious deficiencies in quality health care had been highlighted by the Institute of
Medicine (James, 2012). Recently, the use of financial incentives to reward for improving quality of
care is a growing interest for many. Pay–for–performance programs provide bonuses to health care
providers for meeting or exceeding quality measures. However, physicians in the United States have
traditionally been paid for quantity versus quality of care (Blum, 2011). Utilizing incentive models,
such as patient–centered medical home, pay–for–performance, and the fee–for–service payments are
the most commonly used programs. Incentive programs may also reward on improvements that
occur over time, such as year–to–year decreases in hospital readmission rates or decreasing
hemoglobin A1c values in diabetic patients (Blum, 2011). Hospital can incur financial penalties
under the Medicare guidelines for individuals who acquire certain preventable conditions during
their hospital stay, such as urinary tract infections from use of catheters and pressure ulcers.
However, there is insufficient evidence to support whether or not financial incentives improve
quality of primary health care. In addition, it is unclear whether financial incentives could
potentially cause harm as they only incentivize based on certain health indicators. Therefore,
physicians may spend more time focusing on meeting those indicators while paying less attention to
other important issues
... Get more on HelpWriting.net ...
The Use Of Merit Pay And Incentives Essay example
The Use of Merit Pay and Incentives
The purpose of this paper is to explore the use of Merit Pay and Incentives as motivators for
increased productivity. The key focus is the system at
Richmond Memorial Hospital. To do so, one must begin at the beginning.....
The use of financial incentives (financial rewards) paid to workers whose production exceeds some
predetermined standard was popularized by Frederick
Taylor in the late 1800s. As a supervisory employee of the Midvale Steel
Company, he had become concerned with what he called "systematic soldiering".
This was the tendency of employees to work at the slowest pace possible and the fact that some of
these same workers still had the energy to run home and work on their cabins, ... Show more content
on Helpwriting.net ...
Sooner or later, one has to rest...and so it goes. But, do note that a number of needs or motivators
may be "acting" at the same time. In hospital settings, especially those that are
undergoing restructuring needs are highly varied. The same employee who is driven by a salary
motivator may now be driven by a long term security need as a motivator
(REFERENCES??).
Many times, if one is given a bonus for a job well done, the money is not the motivator, but the
recognition is. Initial motivation can occur with the use of bonus or profit sharing. However since
bonuses and other such incentive compensations occur perhaps as little as once a year, there must be
other motivators at work to get an individual to work towards established goals. This is an important
concept which must be understood in order to have any incentive compensation system work for the
company and individuals (REFERENCES???).
Implementing pay for performance plans, good management, and incentive plans will motivate
personnel to perform at the peak levels necessary to bring about improvement in the bottom line
which is what interests most corporations
(REFERENCE?).
With flatter organizations, and in most cases fewer employees, companies need to motivate their
remaining employees to make a value–added contribution, take ownership, and be held accountable
for their work (REFERENCE?).
Historically, employees have been rewarded with increased base pay,
... Get more on HelpWriting.net ...
Adoption Of A New Ehr
Despite some barriers and challenges of EHR adoption, transitioning our office to paperless has
become inevitable. Timely adoption of EHR would help our clinic receive incentives, merge paper
records into the new database, and better organize patient information. In order to ensure the most
seamless implementation possible, meticulous planning will be a must.
First, the process of acquiring a new EHR system will start with developing an office strategy based
on different needs of our clinic. Some critical questions should be asked such as what would be the
main goal to go paperless, what would be some features that my clinicians regard important, would
my practitioners need a remote access, or would they be committed in learning and using ... Show
more content on Helpwriting.net ...
Anita Ground also stresses on the huge importance of this planning stage by using a concept of
system life cycle. It consists of feasibility study, analysis, design, programming, implementation,
and lastly maintenance (Ground, 2011, VA TMS training material). The analysis phase in particular
would coincide with what the author Yoshihashi is presenting in figuring out office strategy and
researching EHR options. Identification of stakeholders and system requirement would play a
critical role in EHR adoption (Ground, 2011). Stakeholders would include patients, family,
clinicians, billing, registration, and coding as well as the external users such as Centers for Disease
Control (CDC) and Centers for Medicare and Medicaid Services (CMS). Bottom line is that the new
system being purchased would need to provide meaningful use to the clinic based on the current
certification standards.
Health information technology (HIT) consultants would be able to provide valuable guidance in
filtering information and narrowing the search down to a few that can work for this clinic. In order
to get the best recommendation among many vendors out there, the following information would
need to be provided and answered.
1) The inputting method: keyboard, mouse, stylus, touch screen, or voice–recognition
2) Work–flow including telephone triage, lab ordering, appointments, scheduling, and
... Get more on HelpWriting.net ...
The Importance Of Education In Education
Education seems to be the only socially acceptable way to lower the world's endlessly growing
population. Other methods, such as financial incentives, have been debated but without any real
seriousness to come up with working programs that won't take advantage of people. Although it is
important to see that these methods as opportunities to educate are becoming harder to come by.
Education is only obtainable in places where there is some level of affluence and an established
governmental foundation proficient of enforcing such a program. Ironically, the regions that are
meant to be targeted are usually in a state that is inaccessible, impoverished, and economically
fragile. So, since education is limited, and can only reach so far, other methods must be taken into
consideration. An individual example of this would be to tax families that have more than two
children. A business example would be to receive incentives such as tax cuts for installing solar
panels on buildings.
The goal of these policies is to change the ideas and beliefs from procreative mentalities towards
lower fertility rates. Many of these changes can be made through propaganda and the media, as
these are well known ways to push ideas out to the public. Although, not all solutions via the mass
media are equivalent in morality. For example, logical persuasion is a seemingly sound method of
shifting a culture's views in favor of or against an idea.
Through propaganda, much can be achieved; due to how they
... Get more on HelpWriting.net ...
An Organization For Employee Incentives
Short Paper
In any organization implementing employee incentives will only make the business flourish. An
incentive is something that motivates an individual to perform to the best of their ability. Using
incentives to motivate the employees can create a successful business, but it has to be done properly.
In fact, employee incentives relate to positive reinforcements because if an individual gets rewarded
for performing a task efficiently, then they are more likely to repeat that task again. Some people
believe that money is as the only incentive to motivate employees, but that is incorrect. Money can
only motivate employees when a task is simple and does not require conceptual, creative thinking.
(YouTube) Consequently, money does not always influence individuals and may create an even
bigger problem. According to the book, "An important principle is that the stronger the incentive
intensity, the stronger the motivation, but also the greater the chance that there will be unintended,
undesirable consequences." In other words, if there is a giant cash reward in play, this will increase
motivation of all employees, which may lead to an unfortunate result because the employees will
become stressed out. Therefore, the more a manager creates employee incentives the more the
company will benefit in the end. Managers have to first start by treating their employees as people
and nothing else. In fact, employee recognition programs create an increased sense of worth and
improved
... Get more on HelpWriting.net ...
Non-Financial Incentives vs. Commission for Retail Employees
Running Title: Non–Financial Incentives vs. Commission for Retail Employees BACKGROUND
Learning Express is a franchised educational toy store. We try to operate the store as a team with
each of our employees possessing different skill sets (inventory knowledge, interpersonal skills,
tasks). We also prefer that our more experienced staff take care of the checkout procedure. We also
offer exceptional and more personalized customer service to encourage them to keep coming back
as their toy needs grow and change. We offer customer special shopping opportunities if they spend
a certain amount, sign up for our marketing list or join our Facebook page. We also offer many free
or no cost events for their children such as holiday crafts, ... Show more content on Helpwriting.net
...
NFIs would be smaller which would hopefully still motivate the employees to sell but would not be
large enough to encourage people from trying to make all the sales by themselves.
RECOMMENDATION The recommendation is an alternative to a commission structure for retail
employees by offering non–commission incentives such as: Low cost incentives Discounts on
merchandise– We currently allow employees to take a 25% reduction on any purchases. We could
offer 30% off their next multiple purchase up to a certain amount or 40% off one item. Company
parties– This option could take several forms but it would be important to us to keep it low cost.
One option may be to close early one night and have a potluck. Or have everyone over for a movie
night with popcorn. Tickets/ gift cards– This option has been successful in the past with the
employees and seems prudent to continue. We ask the employees from where they would like to
receive gift cards. They can be purchased in small increments, which is appealing to us, the store
owners. Employees can work to get more gift cards and save them up for bigger purchases. Some
past favorites have been gas, groceries, coffee, and movie gift cards. Non– monetary incentives
Wear jeans to work– The employees have "uniforms," polo shirts with khaki pants. Jeans, for many,
are more comfortable and relaxed feeling. We could even post a sign on the door that employees
... Get more on HelpWriting.net ...
Greed And Incentives Essay
"An incentive is a bullet, a key: an often tiny object with astonishing power to change anything"
(Levitt 20). What professor Steven D. Levitt (a professor of economics at the University of
Chicago's dictum here is that the incentive has a lot of power in this world). And that the metaphor
of comparing "incentives"to a bullet really speaks wonders to their strengths. They can change
almost any situation by motivating someone to do something in a business situation, all the way to
education fields. After many years of college, business and economics students are being taught how
to be greedy in college. It is only a matter of time before greed is too powerful. Incentives and greed
both have favorable and critical effects on individuals and the populace, but when connected
together both can have dangerous effects on future selections.
Incentives give better options to companies, and can help motivate or create better environments. In
this text from an incentive brochure states "Travel is the most glamorous and promotable of all of
the award options, with around 40 percent of incentive users choosing it. However, even more than
merchandise, it's a challenge to plan and manage. There are site inspections to be made, travel
logistics to arrange, and meals, and entertainment that will please everyone"(Reward 2). The
incentive is ... Show more content on Helpwriting.net ...
He pauses for emphasis, tightens the knot in his power tie, then continues. "Greed clarifies, cuts
through, and captures the essence of the evolutionary spirit"(Relin 1).This quote shows how the
greed was created, and back then there was an incentive to have greed, and the diction of
evolutionary spirit can be inferred that social darwinism is in play, with too much greed comes the
dangerous choices, and these young people being filled with propaganda to be the best and only the
strongest survive is absurd to
... Get more on HelpWriting.net ...
Economic Incentives : Effect Of Social Disapproval
citet{carpenter2006mutual} following similar work by citet{gachter2000cooperation}, provide
empirical evidence that economic incentives can reinforce the effect of social disapproval. Both the
mentioned papers consider groups of people ranging from five to ten. Each group plays ten rounds,
and are then moved to a different group after each round in the `strangers ' treatment. There are three
stages to each round, firstly they must contribute, secondly the contributions are made public and
finally in the treatments that had a punishment round, players have an opportunity to punish another
player at a cost to them self. The results of both papers show the trend that people who contribute
less are punished and in later rounds they will contribute more. This suggests that punishment
works, interestingly the willingness of players to punish cannot be explained in an economic sense
as it is at cost to them. This is referred to by citet{bowles2004evolution} as `strong reciprocity ', this
is defined as the willingness to enforce a social norm at material cost to oneself and no expectation
of benefit for them or anyone else. In terms for this dissertation an action that cannot be explained
by classical economic analysis which justifies actions with the self–interest motive, which suggests
that the separability conditioned outlined by citet{bowles2008social} at the beginning of this
chapter does not hold. Furthermore the behaviour of those that are punished cannot be explained
with
... Get more on HelpWriting.net ...
Incentive Pay, Employee Performance and Employee...
Introduction
Today, competition between the businesses is extremely high thus companies need to find ways to
be competitive. Organizations prepare the best market strategy to increase the company performance
and the ways to keep their employee motivation on the highest level to perform well within the
competition. At that time, several incentive pay programs play an important role for every
organization to perform well within the competition.
Creating and implementing of incentive pay system supports to solve organizational problems to
align the preferences of business and employees. In addition, the system serves as an organizing tool
to identify and attract the most capable employees since companies need to deliver the product or ...
Show more content on Helpwriting.net ...
Relationship between Incentive Pay and Employee Work Performance
An incentive pay program can reward employees who continue to produce superior work or
encourage employees who already produce good work to best. Sometimes, use an incentive system
when employees are lack of enthusiasm of getting down to work and improving things. If everyone
in the same job classification gets the same pay, there is no real incentive to do an outstanding job
(French, 1990). Various incentive plans used to motivate all employees such as production staff,
sales staff, administrative staff and managerial and professional staff on an individual basis. To be
improved employee work performance, the incentive pay programs need to be fairly matched with
the employees' expectation. Properly designed and maintained incentive pay program has the
potential to increase employees' productivity and work performance.
There are three main types of incentive plans an organization can be practiced. These are individual
incentive plans, group incentive plans and company–wide incentive plans. Moreover, suggestion
plans and positive reinforcement programs can be considered as incentive plans (French, 1990).
Flexible reward systems linked to an individual employee performance called individual incentive
plans. Merit pay, piece–rate pay, bonuses and special
... Get more on HelpWriting.net ...
Test Incentives For Organ Donations
No one wants to voluntarily sign up for an unnecessary surgery, which is why there is a five to ten
year wait limit for an organ donation. The New York Times Article "Test Incentives for Organ
Donations – There's No Reason Not To," written by Sally Satel, states that in order to raise the
number of donations, people should be rewarded (Satel). Based on the statistics Satel provides, she
says altruism is not producing enough donations. Instead, she believes the government should offer
some form of incentive to lure people into doing a good deed (Satel). Satel's article does develop
solid points to teach readers about her topic effectively while simultaneously providing evidence to
endorse her argument. She gets her purpose across by ... Show more content on Helpwriting.net ...
She productively argues that not enough deceased donations will be enough to satisfy the wait limit
(Satel). Satel's purpose here is to let her readers know that patients in need of a transplant do not
have all the time in the world to wait for someone to save their life. She wants people to understand
that waiting until death to donate organs kills others in the process of time. Not enough people die a
day that actually qualify as organ donors to help the 100,000 people on the wait list (Satel). Satel
uses this information as evidence as to why we need incentives for people to donate their organs;
there is simply not enough willing participants that want to save another person's life. Satel's
purpose was to inform readers of the crucial need of organ donors, which she believes can be solved
by incentives (Satel). She managed this argument effectively by connecting the problem to
someone's reality while addressing the issue with practical evidence. Since her purpose was
executed flawlessly, so was her evidence. Every new issue that was brought up had supporting
information that validated it. She admitted that many people would assume incentives for organ
donations would just act as another way for the rich to feed off the poor. To counter that, she says,
"the demographics of the waiting list indicate that recipients, themselves, are likely to be low–
income" (Satel). Her next piece of evidence states that young people would also be interested
... Get more on HelpWriting.net ...
The Pay For Performance Incentive Program
Abstract
The Pay for Performance incentive program is a new program being implemented across the United
States to measure the quality of care within health care organizations. There are both positive and
negative aspects of the Pay for Performance program that are based on information received from
organizations who have implemented the program within their organization. The regulations the
Federal Government has developed requirements for hospitals who serve Medicare patients as well
as establishing four metrics that are used to measure the quality of the employee. Employees who
work at an organization are given the opportunity to opt out of the Pay for Performance incentive
program. This gives the employee the ability to make decisions on their income potential. Pay for
Performance is a new aspect of the health care industry and will be used within the industry to
measure quality of employees for the foreseeable future.
Quality Health Care and Pay for Performance Incentives Pay for performance has been a topic
debated for many years in a wide range of professional settings as a way to increase employee
productivity by basing their pay on the quality of the employee's performance. Pay for Performance
used within the medical community is defined as a payment system that offers financial rewards to
medical professionals who meet or exceed specified benchmarks ("Pay–For", 2009). Most
approaches adjust the payments to physicians and hospitals on the basis of
... Get more on HelpWriting.net ...
Benefits Of A Incentive Pay For Teachers
Incentive Pay for Teachers
If you're a student, it may not be long before you find yourself in a classroom competing with peers
from all over the world. With the ensuing tide of globalization, the top companies and firms will be
able to look beyond students from local schools and access a growing global talent pool. Over the
last two decades, countries around the world have focused on expanding and innovating education
as the key to maximizing well–being, reducing poverty, and increasing economic growth. As a
result, Canada may soon find itself trailing behind international standards, which would gravely
impact Canada's ability to stay competitive with the global economy. Having spent the second–most
out of 32 developed countries in the world, Canadians understand the importance of investing in
education. Improving education outcomes is a key priority for governments around the world, if
Canada wants to stay competitive it must be willing to innovate. One idea long neglected: incentive
pay for teachers.
It sounds simple enough: an honest day's pay for an honest day's work, those who achieve better
results should be better compensated in return. But depending on who you ask, the notion is either
rationally straightforward– or utterly perverse.
The idea that teachers should be compensated based on their performance has Canadians entrenched
in a heated debate. In 2014, a report published by the Fraser Institute advocating for teacher
incentive pay was immediately met with
... Get more on HelpWriting.net ...
Pay For Performance Incentive Awards Program For Reliance...
Pay for Performance Incentive Awards Program for Reliance Partners LLC
Due to existing economic expansion, many corporations are searching for new alternatives to get rid
of the guaranteed benefits way of thinking, to using their limited budgets, for increasing
performance. In modern–day business salaries increases are decreasing. In order to retain key
employees, enterprises are turning to a more practical way of differentiating their employees and
enhancing performance. To clearly create an associate between rewards and performance of the
firm, they are using power tools like incentives and pay–for–performance programs. The results of
switching to a performance philosophy help to draw, engage, and retain top talent. In this case, I will
be using a hypothetical company, and assuming the role of Vice President of Human Resources that
is required to design, support, and implement a Pay–for–Performance Incentive Rewards Program
for both senior management and all the employees.
Strategic Compensation
In the current economic situation, companies are relying on strategic compensation as a new way to
motivate, engage and retain their employees. Strategic compensation is a tool organizations use to
improve motivation and increase performance, while linking its workforce with the company's
objectives. Compensation when used strategically, it becomes a power tool that gives firms a
competitive advantage (Snell & Bohlander, 2013). When designing a compensation plan, the
company
... Get more on HelpWriting.net ...
Incentive Plans
Incentive Plans
MGT/431
February 21, 2012
Incentive Plans
Organizations provide incentive plans to employees as motivation to reach the objectives and goals
of the company. Incentives are given to personnel to encourage them to do his or her best. Incentive
plans in any business might include bonuses or raises, stock option plans, or other forms of
incentives. This is in exchange for the employees who work harder, better, or faster in accordance
with the organizations goals and objectives (Businesstown.com, 2001). The majority of incentives
are performance–based policies in which workers receive additional cash or benefits centered on a
worker's performance.
Raises and Bonuses
Most companies will award a base salary increase ... Show more content on Helpwriting.net ...
The CSR would receive a candy bar of his or her choice or PTO for taking the most calls in a day.
Each day the total calls are reported and the CSR with the most receives the incentive. Some CSR's
will have competitions with each other. This is a way the employees motivate themselves. When all
goals are met the team or teams receive a lunch party in which the company provides the funds for
the event; this is a paid event for all employees. Some employees make his or her team goals a
priority because the team goal incentive is always higher than individual goals.
Conclusion
Incentive plans are beneficial to an organization because it provides high productive results through
teamwork; teamwork is an effective tool in an organization. For that reason, it is important to build
an effective team and motivate them. The supervisor has the responsibility to motivate the
employees; however, when incentives are given it will motivate the employee to do his or her best
and in return the company will gain the maximum productivity of the employees
(Businesstown.com, 2001). In the department I work for monetary incentives motivate the
employees but nonmonetary incentives as simple as a candy bar or PTO work too.
References
Businesstown.com. (2001–2003). Choosing Incentive Plans. Retrieved from
http://www.businesstown.com/people/compensation–plans.asp
Salary.com. (2012, February 15). Raises and Bonuses: Will You be Rewarded for
... Get more on HelpWriting.net ...
The Effect of Task Complexity on the Relation Between...
1. Introduction
In this study I want to look at the effect of task complexity on the relationship between team–based
incentives and performance. I will thus try to find whether task complexity is a moderating variable
in the relation between incentives and performance and specifically try to find whether this effect
differs for individual incentives and team incentives.
When looking at incentive contracts in management accounting literature, usually theories from the
field of economics and psychology are combined. In some circumstances these theories can lead to
quite opposing predictions of the effect of incentives on performance. In general incentive contracts
are a decision influencing control tool used to make sure that people's ... Show more content on
Helpwriting.net ...
For example Lazear (2000) empirically finds in a manufacturing environment that pay for
performance increases productivity with 44%. On the other hand Bonner et al. (2000) find that only
in about 50 percent of the experiments they examined, financial performance led to improvements in
productivity. This thus means that the relationship between incentives and performance may be
dependent on the situational circumstances and they do not work in every environment. Specifically
in their review of experiments Bonner et al. (2000) find that when the complexity of the task
increases (relative to the skill of the participants), the likelihood of observing a positive effect of
incentives on performance decrease. Bailey and Fessler (2011) also find that monetary incentives
are more effective when the task is less complex. On the other hand in a review of empirical studies
on financial incentives and performance Jenkins et al. (1999) find that financial incentives are
generally related to output quantity but not to quality. Furthermore, they find task type is
independent of the relation between financial incentives and performance. If the performance on a
complex task is more difficult to measure, the agent's effort thus has less influence on the
performance measure (more noise, less sensitivity) and the measure is less effective.
All the above studies are concerned with individual incentives. Apart from research on individual
incentives there is also a lot
... Get more on HelpWriting.net ...
Incentive Pay
Incentive Pay
(Research Paper)
Outline
I. Introduction
II. Body A. Importance of incentive Pay plan. B. Types of incentive pay. 1. Individual incentive
plans 2. Group incentive plans. 3. Companywide incentive plans. C. Advantages of Incentive Pay D.
Designing incentive pay plans. E. Incentive pay and the motivational models. F. Problems.
III. Conclusion.
Abstract Quality of employees work is very critical for company's success. If planned properly,
incentive pay plans may increase employee's interest in providing better service. This paper
discusses ... Show more content on Helpwriting.net ...
Individual incentive pay plans are most appropriate under three conditions; First, employee's
performance can be measured objectively, Second, individual incentive plans are appropriate when
employees have sufficient control over work outcomes, Third, individual incentive plans are
appropriate when they do not create a level of unhealthy competition among workers that ultimately
leads to poor quality. Individual Incentive plans reward employees for meeting such work–related
performance standards as quality, productivity, customer satisfaction, safety or attendance. Any one
of these standards by itself or in combination may be used. A company ultimately should employ the
standards that represent work that an employee actually performs. When designed and implemented
well, individual incentive plans reward employees based on results for which they are directly
responsible. The end result should be that excellent performers receive higher incentive awards than
poor performers. There are four types of individual incentive plans; Piecework plan. Under
piecework plans an employee's compensation depends on the number of units he or she produces
over a given period. Management incentive plans. These plans award bonuses to managers when
they meet or exceed objectives based on sales, profit, production or other for measures their
... Get more on HelpWriting.net ...
Benefits Of Employees And Employees At The Workplace Is...
Harvard Business School Professor Michael Beer stated "I think there is an implicit negotiation
going on between what management wants and expects, and what employees want and expect"
(Lagace, 2003). One aspect of the ongoing negotiation between employers and employees in the
workplace is the utilization of incentive pay plans. Employers utilize incentive pay plans to motivate
and change employee behaviors in order to prioritize behaviors and outcomes that the employer is
looking for. Pay for performance appears to be a common sense solution to motivate employees. It
creates a reward system for employees that is tied to job performance and meeting criteria that the
employer values (Taylor, 2013). While the idea of offering financial incentives to employees appears
to be grounded in business principles and ideas that have existed for a long time, they are not always
successful. In order to for pay for performance incentive tools to live up to their potential in the
workplace they must be crafted to meet the needs of organization as well needs of the employee, the
plan must also be maintained and evaluated on a regular basis. Failure to do so can cause more harm
than not utilizing one. Furthermore, there is a growing body of research pointing to the idea that
incentive or rewards are not the solution for improving employee performance that they were
portrayed to be. There are several different types of incentive plans "that can be tied directly to
business objectives
... Get more on HelpWriting.net ...
Operations Management's Incentive Programs
Incentive Programs And Their Effect On Operations Management In spite of numerous assertions
concerning the putative significance, there has been small experimental appraisal of incentive
stipulation for workers. Because it is assumed that the interests of workers and their employers are
not all the time equal, a grand conceptual literature has accentuated how firms map compensation
agreements to persuade employees to work so as to obtain the firm's desired objectives. Like the
piece rates, efficiency wages, options, promotions, profit sharing, discretionary bonuses, deferred
compensation, and others. There is an assumption that people acknowledge to agreements that
compensate performance. Thus, to state whether or not the agreements look like the theory of
forecasts. Firms give incentives to workers by way of the compensation applications of firms,
circuitously observing, assessing, and agreeing, and applying various gadgets to put in line the
objectives. A few workers like the employees that work in the sales department are principally
rewarded due to their pains by way of clear–cut agreements that link the rewards to espied standards
of performance. While it is also observed that other employees are rewarded but not on the personal
standards of performance in contrast on more combined standards. These standards may be like the
one having the profit–sharing attributes. Nonetheless, various employers abstain from the operation
of clear agreements, favoring to reward
... Get more on HelpWriting.net ...
Compensation and Benefit System Proposal Essay example
Holland Enterprises is on a new strategic direction, to attract and retain the most talented employees
and to reduce turn over. Human resource department has came up with a new compensation plan. In
the propose compensation and benefits system plan , I will explain a new compensation plan for
Holland Enterprises, also I will explain the components of the compensation and benefit system plan
in order to attract and motivate employees to be productive . In order for the compensation and
benefits system plan to be operational, the package should include a necessary level of
compensations to fulfill basic needs, equity with the external labor market, equity within the
organization (Henderson, 2006). First Ashley Nuese, director of ... Show more content on
Helpwriting.net ...
The propose compensation and benefit system plan is about financial as well as non–financial
benefit. Having a combination of financial and non–financial benefits is needed to motivate and to
attract and retain employees for Holland Enterprise to accomplish its goals as a company. It is
noteworthy to state that this to be operational is that employee need to able to see that the non–
financial benefits are as respectively important as the financial benefits to the job positions they
hold. A great opportunity lay in employee recognition. Employee recognition will be nonfinancial
benefits offered to employee. This non–financial benefit allows management to proper recognize
and foster employee loyalty as well reinforce positive work behavior and encourage for repeat
performance in all areas of the job (Henderson, 2006). Another non–financial benefit for employee
is training. Training will allow employee gain additional knowledge and expertise and to be up to
date with new technology open opportunity to advance in their career. These non–financial benefits
allow management to make sure employees are value. Including employee in department meetings
and allowing employee to have a say so in decision making demonstrates respect for employee and
it allow the
... Get more on HelpWriting.net ...
Best Performance Incentive Plan
The best performance incentive plans are the ones that work, of course, but what works for
employees – cash or days off – might not be what your organization can afford. Incentive plans that
are effective at motivating billers must be affordable and targeted to specific results. Most
importantly, they must be finite – that is, not a permanent entitlement.
Put careful thought into the design, goals and timing of any incentive plan – big or small. Use these
10 tips to shape your organization's incentives for billers:
1. Recognize that the revenue cycle is a function of many factors
Billing is an operational process, not a desk or a department. Your incentive plan should recognize
that everyone in the organization plays a role in the process. ... Show more content on
Helpwriting.net ...
Evaluate annually.
Review your incentive plan's overall results annually against the performance it is supposed to
inspire. In some cases, you may be able to put a cash value on the plan's impact: for example, the
number of reduced denials from practice–caused errors times the cost of reworking a denied claim.
Once you reach a goal, such as collecting 100 percent of patient copayments at time of service,
move on to other targets.
10. Consider non–monetary awards.
The problem with most financial incentive plans is that they become an expectation, which means
they are no longer motivating better performance but merely maintaining the status quo. Staff may
come to view the additional cash as part of their normal compensation. They may even start
depending on it. After the plan expires, morale (and results) can suffer as staff perceive that you took
something away from them.
You can alleviate many of these issues by sticking to short–term plans–three to six months. Better
still, consider a non–monetary incentive plan. Non–monetary awards can work well, and maybe
better than cash awards, because they are perceived as more spontaneous and
... Get more on HelpWriting.net ...
The Concept Of Incentives And The Way Of Which Humans...
Sandel next adresses the concept of incentives and the way in which humans respond to them.
Individuals act in order to maximize their own welfare and therefore respond things that allow them
to do so; these things are known as incentives. Sandel provides us with the example of students who
where offered financial incentive to do better in school. However the reaction to the incentives
differed from the standard economic model. While paying students who passed AP exams did
increase over all success, the results indicated that the amount of money payed made no difference
in the amount of achievement. While the did serve its purpose as an incentive, the money did not act
as a bribe but rather as an agent that changed the stigma associated with AP testing making it "cool"
for students to do. While there do exist benefits to offering incentives, there also exists ramification
known as perverse incentives. The notion of perverse incentives deals with the idea that by placing a
market price on a certain act, the meaning of the act itself may become blurred. Sandel offers the
example of fine Vs. fees where parents would come late to pick up their children from day care and
treat the fine for coming late as a fee for extended service. By placing a market value on the
extended time care takers had to work, parents no longer felt guilty about leaving their child later till
later hours and therefore eroding the original purpose of the fine. At this point Sandel moves to the
... Get more on HelpWriting.net ...
Perceiving The Actual World Like An Economist Essay
Perceiving the Actual World Like an Economist Through out the entire book Freakonomics, Levitt
and Dubner, emphasize how people are constantly responding to incentives, and how these
incentives motivate and affect people's decision making in their daily lives. The authors of this book
talk about economics from a different perspective, and they do it by relating unusual and unasked
questions to the field of economics. Levitt and Dubner define an incentive as the "means of urging
people to do more of a good thing and less of a bad thing" (Levitt and Dubner 17). These incentives
are usually what drive people to get what they want or need especially when resources are scarce
and others want the same things. In this book, the authors define three types of incentives –
economic, social, and moral – which are measured by people's responses (Levitt and Dubner). From
childhood, humans are constantly responding to incentives and learning from them. In Chapter 1,
Levitt and Dubner explain some of those incentives by presenting a study based on 10 day–care
centers in Israel. The study focused on the parents' responses after the day–care centers announced a
$3 fine for each time they picked up their kids 10 minutes later than the stated policy. The $3 fine
caused the opposite effect that the managers of the day–care centers wanted: instead of reducing the
number of tardy parents, it caused an increase of the number of late pickups. The reason for the
increase of tardiness pickups was
... Get more on HelpWriting.net ...
E-Prescribing is an Incentive by the Centre for Medicare &...
E–Prescribing is an incentive by the Centre for Medicare & Medicaid Services (CMS). It allows the
electronic transmission of prescriptions between qualified medical practitioners and physicians. The
aim of the program is to improve the drug prescription system by avoiding errors resulting from
handwritten prescriptions. The E–prescribing program runs on various standards. These standards
are spelt out and added in Part D of the Medicare Prescription Drug, Improvement, and
Modernization Act 2003 (CMS, 2013).
The standards outline clearly the eligibility criteria for prescribing physicians and participating
pharmacies. The standards also inform participants on best practice in issues regarding refill
prescriptions, cancellation of prescriptions and changes in prescription among other things.
Moreover, the standards cover administrative guidelines regarding the operation of the system. The
standards also cover the drugs covered by the benefits program of the E–Prescribing system. There
is a standard on medical history that allows prescribers access information on drugs currently
available to the patient so as to guide them in the prescription service. Fill Status Notification is a
standard that allows prescribers follow up on the prescriptions status such as it's been picked up or
not (CMS, 2013). This standard serves to allow prescribers follow their patients' adherence to
prescriptions.
The E–Prescribing Program was developed on a timeline. In November, 2005, the initial
... Get more on HelpWriting.net ...
Small Group Incentive Pay
Traditionally, most employers compensated their employees based on a set hourly wage or annual
salary (Martocchio, 2013). Today, there are many companies that utilize incentive pay programs to
replace part or all of the base pay to manage payroll expenses and to connect pay to performance.
Incentive pay, also referred to as pay–for–performance or variable pay, rewards individuals for
partly or completely achieving a predetermined goal (Martocchio, 2013). Basically, incentive pay is
compensation, outside of the employee's regular wages, which can vary depending on whether or
not the employee achieves predetermined goals (Martocchio, 2013). In this particular case study,
Jack Hopson, an employee of Metropolitan Furniture Company, requested ... Show more content on
Helpwriting.net ...
An employer can benefit from a team–based incentive plan, in the same way they would benefit
from a commissioned sales staff (Auchterlonie, 2009). Essentially, when performance measures are
met, both the employer and the team members profit. Nevertheless, if the goals are not met, the
employer would lose less than he normally would pay employees a straight hourly or salary wage
(Auchterlonie, 2009). However, one particular advantage of a team–based incentive pay plan is the
feeling of peer pressure. Consequently, when a member of the team is not performing or pulling
their share of the weight, team–based incentive pay plans helps team members holding their peers
accountable (Zenger & Marshall, 2000). Typically, this type of peer pressure aids in preventing
anyone from being singled out as a slacker. Most people do not want to let their team members
... Get more on HelpWriting.net ...
Airport Air Service Incentive Programs
k. than 1% of national system delays or one that has been identified as a currently congested airport
or future congested airport in specified FAA national airport capacity studies. For congested airports,
the 2008 amendment provides for the following:
Confirms the right to establish a reasonable, properly structured peak and off peak fee system so
long as total revenues do not exceed allowable costs;
Permits a congested airport to increase its fees to subsidize FAA designated secondary airports in the
system, and thereby encourage the use of the secondary airports, provided that total revenues do not
exceed allowable costs of the airport system;
Permits a congested airport to include the capital costs of project under construction in its rate–base
for fees charged during periods of congestion if doing so would relieve or avoid current congestion.
Permitted costs are limited to those actually incurred and future charges for the project once it is
operational must be reduced by the amounts charged during construction.
l. Air service Incentive Programs: A Sponsor may grant reasonable and not unjustly discriminatory
discounts or fee waivers included in an air service incentive program. Requirements for a
permissible program include, but are not limited to the following:
The program must have well–defined criteria and be open to any carrier or service meeting the
criteria;
Incentives for particular service must be limited in time, with the maximum duration depending on
the
... Get more on HelpWriting.net ...
Evidence-Based Incentives
Summary:
Lifestyle and behavior among adults has been the topic of major concern in the recent years.
Unhealthy lifestyle behaviors have the potential to exacerbate chronic conditions like cardiovascular
diseases, stroke, elevated blood pressure levels, diabetes, and obesity. Substantial improvements in
behavior and lifestyle of individuals can help curb these high rates of obesity and avoid devastating
effects caused by chronic health problems. Among the options available, evidence–based studies
suggest that providing financial incentives could be a better way to encourage change towards
sustainable healthy behaviors. These include providing discounts on premiums, co–insurance or
deductibles, providing large amount or rewards for reaching the targeted health outcome. But these
have proven to be beneficial only for short–term and only for certain groups of individuals. In order
to increase the likelihood of long–term success on the path to health and wellness, I recommend the
policy should consider providing progress–based incentives, and long–term targeted incentives for
specific high–risk individuals.
Background:
Recent reports by Centers for Disease Control and Prevention (CDC) show that more than two–
thirds of adults and one–third of youth in the United States are obese (Ogden, C. L., et al, 2014).
Increased rates of obesity are mainly responsible for serious health problems, rising health care
costs, and rapidly decreasing health outcomes. The escalating rates of
... Get more on HelpWriting.net ...
Statistical And Factual Analysis Of Encompassing...
The purpose of my research paper will be to inform the reader with statistical and factual analysis
encompassing Incentives and reward based programs. We will evaluate various incentives to see if
this macroeconomic incentivized/rewards based process does indeed drive business and generate
more growth amongst companies via rewards and loyalty programs towards the general population
of consumers. This analysis surrounding incentives will also be comprised of the price and demand
structures to tie into how companies also utilize their rewards, customer loyalty plans and coupons
during different times of the seasons to boost sales and establish a bond with the ones they are
selling to, the consumers.
U.S. consumers hold 3.3 billion memberships in customer loyalty programs, the 2015 COLLOQUY
Loyalty Census shows, a 26% increase over the number of memberships reported in COLLOQUY's
last census study in 2013 (Colloquy, 2015) With loyalty programs established this helps to generate
a repeat customers which drives profits and promises future revenue. Consumers need an incentive
to purchase a product at a certain place. When Loyalty programs are in place it helps the consumer
relate to the product and funnels them towards the product in which they feel that they are apart of.
They can build exclusive points and incentives when products are purchased and are then able to use
those rewards points at a later time to purchase more goods or even get a portion of the cash back.
... Get more on HelpWriting.net ...
Economic Incentives Essay
Discussion Board Forum 1
Topic: Economic incentives
Then discuss your topic in an original thread by 11:59 p.m. (ET) on Friday, and reply to at least 2
classmates' threads by 11:59 p.m. (ET) on Monday. Be sure to include the following:
* In the first paragraph, discuss the relevant economic theory of your topic (your textbook is a good
source for this paragraph). * In the second, you must include outside research to corroborate your
thread (from the Liberty University Online Library or elsewhere). * In the third, cite and discuss a
real–world example of your topic. * In the fourth, integrate biblical insights into your Discussion
Board posts.
Economic incentives are used to influence a person. The postulate ... Show more content on
Helpwriting.net ...
Incentives are seen everywhere in daily life and they appear in a variety of ways. Whether a person
is making a choice between what to eat for lunch or when to go to bed, they are being influence by
incentives. For example, images of an appealing lunch meal in a TV commercial may make
someone choose Subway over Mcdonalds. However, the same thought process can motivate
someone to prefer a meal at McDonalds because of the company's constant promotion of their
"dollar menu" (Mcdonalds, 2013). Either of these incentives can appeal to a person, depending on
what they are motivated by, in this case, either health or money.
The Bible is full of different forms of incentives. Some people can skim the Bible and note its major
incentive; the opportunity for eternal life. However a deeper knowledge of what God says shows
many more incentives. Other incentives are exemplified in the Bible: believers have faith which
gives them peace (Romans 5:1), faith leads to loving the Creator and experiencing His love (Psalms
85:10), and the knowledge of right and wrong gives an opportunity for forgiveness (Acts 2:38). All
of these reasons for believing the Bible, along with many more, can motivate a person to choose that
specific approach to life.
In its essence, an incentive is a deliberate proposal calculated to make a person choose a certain
action. Thus, the reason why incentives are so popular in society is because everything and
... Get more on HelpWriting.net ...
Essay about Revamping the Mary Kay Incentive Program
Revamping the Mary Kay Incentive Program
Executive Summary
This proposal will attempt to revamp the Mary Kay incentive program. The three problems I am
going to address are: the morale of consultants, motivational/stagnation of sales, and poor or weak
directors and consultants. In addressing these issues I am going to be referencing other business that
have used different motivational techniques in these situations. At the end of my proposal I hope to
have at least 3–4 viable options that could be implemented in the Mary Kay Company to fix the
problems mentioned above.
Introduction: The Problem
The problem facing Mary Kay Inc. today is that their incentive program is not working. Based on
the data used in Mary Kay ... Show more content on Helpwriting.net ...
The interest levels of each leased vehicle increased and automobile insurance premiums escalated.
All of these contributed to the increased cost of the VIP program.
Source: Mary Kay Cosmetics: Sales Force Incentives
The Current Challenge:
According to top management within Mary Kay Cosmentics, the top objectives for a new plan are :
• Improve profit margins by reducing overall beauty consultant compensation as a percent of sales.
• Enhance the beauty consultants' career path with more distinct milestones and forms of rewards. o
More well trained directors to be prepared for the roll of directors. o Continuance of sales past
director level (delete stagnation) o Minimize the cost to the firm of maintaining low–performing
consultants.
Source: Mary Kay Cosmetics: Sales Force Incentives Thoughts: What is needed in the program
Per an article from 2006 Buyer's Handbook, the first things that we need to determine when creating
or altering an incentive program is what we want this incentive program to accomplish (see above).
By taking a poll and/or asking the directors within the corporation that are going to be winning the
incentives what would motivate them, as well as explaining the goals in revamping the program, we
would have a more appropriate idea of which way to take the revamp. When asking a source,
Deborah Hall, who is a "VIP" within the Mary Kay company "what would motivate you besides the
use of a
... Get more on HelpWriting.net ...
Do People Respond To Incentives
Do people respond to incentives? What is your opinion?
"People respond to incentives" (Mankiw). An incentive is "something that encourages a person to do
something or work harder" (Incentive). It says right in the definition that it is motivating. Since
"people make decisions by comparing costs and benefits" (Mankiw), when there is an incentive, or
larger benefit, they will make a different choice. When people are shopping at grocery stores and
two brands of cereal are the same price but one includes a prize inside, this prize acts as an incentive
for the customer to buy that brand of cereal. Any time a benefit is available, the chances of that
option being chosen increases. Why would restaurants like McDonalds and Burger King provide
... Get more on HelpWriting.net ...

More Related Content

More from Leslie Lee

New Questions About Best Ess. Online assignment writing service.
New Questions About Best Ess. Online assignment writing service.New Questions About Best Ess. Online assignment writing service.
New Questions About Best Ess. Online assignment writing service.Leslie Lee
 
Order Buy Essay Online Safe. Buy Cialis Online
Order Buy Essay Online Safe. Buy Cialis OnlineOrder Buy Essay Online Safe. Buy Cialis Online
Order Buy Essay Online Safe. Buy Cialis OnlineLeslie Lee
 
Write Good Research Paper Introduction. Research Paper E
Write Good Research Paper Introduction. Research Paper EWrite Good Research Paper Introduction. Research Paper E
Write Good Research Paper Introduction. Research Paper ELeslie Lee
 
LONGER TRANSACTIONAL TEXTS GRADE 12 NOTES - LITE
LONGER TRANSACTIONAL TEXTS GRADE 12 NOTES - LITELONGER TRANSACTIONAL TEXTS GRADE 12 NOTES - LITE
LONGER TRANSACTIONAL TEXTS GRADE 12 NOTES - LITELeslie Lee
 
🐈 What Is Argumentative Speech. 101 Topics For Ar
🐈 What Is Argumentative Speech. 101 Topics For Ar🐈 What Is Argumentative Speech. 101 Topics For Ar
🐈 What Is Argumentative Speech. 101 Topics For ArLeslie Lee
 
Essay Keeping Fit Corrected Nutrition Adolescence
Essay Keeping Fit Corrected  Nutrition  AdolescenceEssay Keeping Fit Corrected  Nutrition  Adolescence
Essay Keeping Fit Corrected Nutrition AdolescenceLeslie Lee
 
Example Of Persuasive Writing Samples Persuasi
Example Of Persuasive Writing Samples  PersuasiExample Of Persuasive Writing Samples  Persuasi
Example Of Persuasive Writing Samples PersuasiLeslie Lee
 
What Is A Good Website To Write Essays. Best Writing Websites For ...
What Is A Good Website To Write Essays. Best Writing Websites For ...What Is A Good Website To Write Essays. Best Writing Websites For ...
What Is A Good Website To Write Essays. Best Writing Websites For ...Leslie Lee
 
Write My Senior Paper How To Write The Best Senior Pr
Write My Senior Paper How To Write The Best Senior PrWrite My Senior Paper How To Write The Best Senior Pr
Write My Senior Paper How To Write The Best Senior PrLeslie Lee
 
What Is A College Essay. What Is A College Essay. What Is A College Essay
What Is A College Essay. What Is A College Essay. What Is A College EssayWhat Is A College Essay. What Is A College Essay. What Is A College Essay
What Is A College Essay. What Is A College Essay. What Is A College EssayLeslie Lee
 
New York City Movie
New York City MovieNew York City Movie
New York City MovieLeslie Lee
 
Moral Panic Essay
Moral Panic EssayMoral Panic Essay
Moral Panic EssayLeslie Lee
 
The City Of Mason City
The City Of Mason CityThe City Of Mason City
The City Of Mason CityLeslie Lee
 
J Cole Song Analyse
J Cole Song AnalyseJ Cole Song Analyse
J Cole Song AnalyseLeslie Lee
 
Quality Control Essay
Quality Control EssayQuality Control Essay
Quality Control EssayLeslie Lee
 
Introduction. The Lungs Are One Of The Most Vital Organ
Introduction. The Lungs Are One Of The Most Vital OrganIntroduction. The Lungs Are One Of The Most Vital Organ
Introduction. The Lungs Are One Of The Most Vital OrganLeslie Lee
 
Changes In Pension Accounting Over Time Have Improved...
Changes In Pension Accounting Over Time Have Improved...Changes In Pension Accounting Over Time Have Improved...
Changes In Pension Accounting Over Time Have Improved...Leslie Lee
 
Blue School Analysis
Blue School AnalysisBlue School Analysis
Blue School AnalysisLeslie Lee
 
Characteristics Of Post Impressionism
Characteristics Of Post ImpressionismCharacteristics Of Post Impressionism
Characteristics Of Post ImpressionismLeslie Lee
 
Degas Bathers (1895-1900)
Degas Bathers (1895-1900)Degas Bathers (1895-1900)
Degas Bathers (1895-1900)Leslie Lee
 

More from Leslie Lee (20)

New Questions About Best Ess. Online assignment writing service.
New Questions About Best Ess. Online assignment writing service.New Questions About Best Ess. Online assignment writing service.
New Questions About Best Ess. Online assignment writing service.
 
Order Buy Essay Online Safe. Buy Cialis Online
Order Buy Essay Online Safe. Buy Cialis OnlineOrder Buy Essay Online Safe. Buy Cialis Online
Order Buy Essay Online Safe. Buy Cialis Online
 
Write Good Research Paper Introduction. Research Paper E
Write Good Research Paper Introduction. Research Paper EWrite Good Research Paper Introduction. Research Paper E
Write Good Research Paper Introduction. Research Paper E
 
LONGER TRANSACTIONAL TEXTS GRADE 12 NOTES - LITE
LONGER TRANSACTIONAL TEXTS GRADE 12 NOTES - LITELONGER TRANSACTIONAL TEXTS GRADE 12 NOTES - LITE
LONGER TRANSACTIONAL TEXTS GRADE 12 NOTES - LITE
 
🐈 What Is Argumentative Speech. 101 Topics For Ar
🐈 What Is Argumentative Speech. 101 Topics For Ar🐈 What Is Argumentative Speech. 101 Topics For Ar
🐈 What Is Argumentative Speech. 101 Topics For Ar
 
Essay Keeping Fit Corrected Nutrition Adolescence
Essay Keeping Fit Corrected  Nutrition  AdolescenceEssay Keeping Fit Corrected  Nutrition  Adolescence
Essay Keeping Fit Corrected Nutrition Adolescence
 
Example Of Persuasive Writing Samples Persuasi
Example Of Persuasive Writing Samples  PersuasiExample Of Persuasive Writing Samples  Persuasi
Example Of Persuasive Writing Samples Persuasi
 
What Is A Good Website To Write Essays. Best Writing Websites For ...
What Is A Good Website To Write Essays. Best Writing Websites For ...What Is A Good Website To Write Essays. Best Writing Websites For ...
What Is A Good Website To Write Essays. Best Writing Websites For ...
 
Write My Senior Paper How To Write The Best Senior Pr
Write My Senior Paper How To Write The Best Senior PrWrite My Senior Paper How To Write The Best Senior Pr
Write My Senior Paper How To Write The Best Senior Pr
 
What Is A College Essay. What Is A College Essay. What Is A College Essay
What Is A College Essay. What Is A College Essay. What Is A College EssayWhat Is A College Essay. What Is A College Essay. What Is A College Essay
What Is A College Essay. What Is A College Essay. What Is A College Essay
 
New York City Movie
New York City MovieNew York City Movie
New York City Movie
 
Moral Panic Essay
Moral Panic EssayMoral Panic Essay
Moral Panic Essay
 
The City Of Mason City
The City Of Mason CityThe City Of Mason City
The City Of Mason City
 
J Cole Song Analyse
J Cole Song AnalyseJ Cole Song Analyse
J Cole Song Analyse
 
Quality Control Essay
Quality Control EssayQuality Control Essay
Quality Control Essay
 
Introduction. The Lungs Are One Of The Most Vital Organ
Introduction. The Lungs Are One Of The Most Vital OrganIntroduction. The Lungs Are One Of The Most Vital Organ
Introduction. The Lungs Are One Of The Most Vital Organ
 
Changes In Pension Accounting Over Time Have Improved...
Changes In Pension Accounting Over Time Have Improved...Changes In Pension Accounting Over Time Have Improved...
Changes In Pension Accounting Over Time Have Improved...
 
Blue School Analysis
Blue School AnalysisBlue School Analysis
Blue School Analysis
 
Characteristics Of Post Impressionism
Characteristics Of Post ImpressionismCharacteristics Of Post Impressionism
Characteristics Of Post Impressionism
 
Degas Bathers (1895-1900)
Degas Bathers (1895-1900)Degas Bathers (1895-1900)
Degas Bathers (1895-1900)
 

Recently uploaded

Grade 9 Q4-MELC1-Active and Passive Voice.pptx
Grade 9 Q4-MELC1-Active and Passive Voice.pptxGrade 9 Q4-MELC1-Active and Passive Voice.pptx
Grade 9 Q4-MELC1-Active and Passive Voice.pptxChelloAnnAsuncion2
 
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...Nguyen Thanh Tu Collection
 
Field Attribute Index Feature in Odoo 17
Field Attribute Index Feature in Odoo 17Field Attribute Index Feature in Odoo 17
Field Attribute Index Feature in Odoo 17Celine George
 
Introduction to ArtificiaI Intelligence in Higher Education
Introduction to ArtificiaI Intelligence in Higher EducationIntroduction to ArtificiaI Intelligence in Higher Education
Introduction to ArtificiaI Intelligence in Higher Educationpboyjonauth
 
EPANDING THE CONTENT OF AN OUTLINE using notes.pptx
EPANDING THE CONTENT OF AN OUTLINE using notes.pptxEPANDING THE CONTENT OF AN OUTLINE using notes.pptx
EPANDING THE CONTENT OF AN OUTLINE using notes.pptxRaymartEstabillo3
 
Full Stack Web Development Course for Beginners
Full Stack Web Development Course  for BeginnersFull Stack Web Development Course  for Beginners
Full Stack Web Development Course for BeginnersSabitha Banu
 
ACC 2024 Chronicles. Cardiology. Exam.pdf
ACC 2024 Chronicles. Cardiology. Exam.pdfACC 2024 Chronicles. Cardiology. Exam.pdf
ACC 2024 Chronicles. Cardiology. Exam.pdfSpandanaRallapalli
 
Introduction to AI in Higher Education_draft.pptx
Introduction to AI in Higher Education_draft.pptxIntroduction to AI in Higher Education_draft.pptx
Introduction to AI in Higher Education_draft.pptxpboyjonauth
 
Keynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-designKeynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-designMIPLM
 
Computed Fields and api Depends in the Odoo 17
Computed Fields and api Depends in the Odoo 17Computed Fields and api Depends in the Odoo 17
Computed Fields and api Depends in the Odoo 17Celine George
 
Roles & Responsibilities in Pharmacovigilance
Roles & Responsibilities in PharmacovigilanceRoles & Responsibilities in Pharmacovigilance
Roles & Responsibilities in PharmacovigilanceSamikshaHamane
 
How to do quick user assign in kanban in Odoo 17 ERP
How to do quick user assign in kanban in Odoo 17 ERPHow to do quick user assign in kanban in Odoo 17 ERP
How to do quick user assign in kanban in Odoo 17 ERPCeline George
 
DATA STRUCTURE AND ALGORITHM for beginners
DATA STRUCTURE AND ALGORITHM for beginnersDATA STRUCTURE AND ALGORITHM for beginners
DATA STRUCTURE AND ALGORITHM for beginnersSabitha Banu
 
Hierarchy of management that covers different levels of management
Hierarchy of management that covers different levels of managementHierarchy of management that covers different levels of management
Hierarchy of management that covers different levels of managementmkooblal
 
Proudly South Africa powerpoint Thorisha.pptx
Proudly South Africa powerpoint Thorisha.pptxProudly South Africa powerpoint Thorisha.pptx
Proudly South Africa powerpoint Thorisha.pptxthorishapillay1
 
Framing an Appropriate Research Question 6b9b26d93da94caf993c038d9efcdedb.pdf
Framing an Appropriate Research Question 6b9b26d93da94caf993c038d9efcdedb.pdfFraming an Appropriate Research Question 6b9b26d93da94caf993c038d9efcdedb.pdf
Framing an Appropriate Research Question 6b9b26d93da94caf993c038d9efcdedb.pdfUjwalaBharambe
 

Recently uploaded (20)

Grade 9 Q4-MELC1-Active and Passive Voice.pptx
Grade 9 Q4-MELC1-Active and Passive Voice.pptxGrade 9 Q4-MELC1-Active and Passive Voice.pptx
Grade 9 Q4-MELC1-Active and Passive Voice.pptx
 
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...
 
Field Attribute Index Feature in Odoo 17
Field Attribute Index Feature in Odoo 17Field Attribute Index Feature in Odoo 17
Field Attribute Index Feature in Odoo 17
 
Introduction to ArtificiaI Intelligence in Higher Education
Introduction to ArtificiaI Intelligence in Higher EducationIntroduction to ArtificiaI Intelligence in Higher Education
Introduction to ArtificiaI Intelligence in Higher Education
 
EPANDING THE CONTENT OF AN OUTLINE using notes.pptx
EPANDING THE CONTENT OF AN OUTLINE using notes.pptxEPANDING THE CONTENT OF AN OUTLINE using notes.pptx
EPANDING THE CONTENT OF AN OUTLINE using notes.pptx
 
Full Stack Web Development Course for Beginners
Full Stack Web Development Course  for BeginnersFull Stack Web Development Course  for Beginners
Full Stack Web Development Course for Beginners
 
Model Call Girl in Bikash Puri Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Bikash Puri  Delhi reach out to us at 🔝9953056974🔝Model Call Girl in Bikash Puri  Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Bikash Puri Delhi reach out to us at 🔝9953056974🔝
 
ACC 2024 Chronicles. Cardiology. Exam.pdf
ACC 2024 Chronicles. Cardiology. Exam.pdfACC 2024 Chronicles. Cardiology. Exam.pdf
ACC 2024 Chronicles. Cardiology. Exam.pdf
 
TataKelola dan KamSiber Kecerdasan Buatan v022.pdf
TataKelola dan KamSiber Kecerdasan Buatan v022.pdfTataKelola dan KamSiber Kecerdasan Buatan v022.pdf
TataKelola dan KamSiber Kecerdasan Buatan v022.pdf
 
Introduction to AI in Higher Education_draft.pptx
Introduction to AI in Higher Education_draft.pptxIntroduction to AI in Higher Education_draft.pptx
Introduction to AI in Higher Education_draft.pptx
 
Keynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-designKeynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-design
 
Rapple "Scholarly Communications and the Sustainable Development Goals"
Rapple "Scholarly Communications and the Sustainable Development Goals"Rapple "Scholarly Communications and the Sustainable Development Goals"
Rapple "Scholarly Communications and the Sustainable Development Goals"
 
Computed Fields and api Depends in the Odoo 17
Computed Fields and api Depends in the Odoo 17Computed Fields and api Depends in the Odoo 17
Computed Fields and api Depends in the Odoo 17
 
Roles & Responsibilities in Pharmacovigilance
Roles & Responsibilities in PharmacovigilanceRoles & Responsibilities in Pharmacovigilance
Roles & Responsibilities in Pharmacovigilance
 
How to do quick user assign in kanban in Odoo 17 ERP
How to do quick user assign in kanban in Odoo 17 ERPHow to do quick user assign in kanban in Odoo 17 ERP
How to do quick user assign in kanban in Odoo 17 ERP
 
OS-operating systems- ch04 (Threads) ...
OS-operating systems- ch04 (Threads) ...OS-operating systems- ch04 (Threads) ...
OS-operating systems- ch04 (Threads) ...
 
DATA STRUCTURE AND ALGORITHM for beginners
DATA STRUCTURE AND ALGORITHM for beginnersDATA STRUCTURE AND ALGORITHM for beginners
DATA STRUCTURE AND ALGORITHM for beginners
 
Hierarchy of management that covers different levels of management
Hierarchy of management that covers different levels of managementHierarchy of management that covers different levels of management
Hierarchy of management that covers different levels of management
 
Proudly South Africa powerpoint Thorisha.pptx
Proudly South Africa powerpoint Thorisha.pptxProudly South Africa powerpoint Thorisha.pptx
Proudly South Africa powerpoint Thorisha.pptx
 
Framing an Appropriate Research Question 6b9b26d93da94caf993c038d9efcdedb.pdf
Framing an Appropriate Research Question 6b9b26d93da94caf993c038d9efcdedb.pdfFraming an Appropriate Research Question 6b9b26d93da94caf993c038d9efcdedb.pdf
Framing an Appropriate Research Question 6b9b26d93da94caf993c038d9efcdedb.pdf
 

Incentive Compensation

  • 1. Incentive Compensation The pay–for–performance incentive compensation program is designed to measure the variations of the healthcare professional performance, as well as motive them in improving the efficiency and the quality of care provided to patient by decreasing medical errors (Abduljawad & Al–Assaf, May 2011). Healthcare professional are given incentives based on good medical outcome and exceptional performance. It is an effective compensation program, because it improves retention, as well as attract new healthcare professionals to the organization; therefore, by giving healthcare professionals an incentive, they are more likely to remain engaged with their profession, because the feel satisfied with their work and that their skills and performance is valued ... Get more on HelpWriting.net ...
  • 2.
  • 3. Are Deadlines An Incentive Essay Are Deadlines an Incentive? Procrastination nation has taken its toll on students all across the world. In Los Angeles, StudyMode, an ed–tech company designed to help students succeed in school, conducted an experiment on procrastination asking approximately 1,300 high school college students about their study habits. "The findings show that procrastination is widespread, with 87 percent saying they procrastinate, and that it's affecting their performance–45 percent report procrastination negatively impacts their grades on at least a fairly regular basis" (StudyMode). These numbers alone indicate that students end up leaving their assignments till the last minute, having to rush through it in order to reach the deadline, resulting in a low grade. Deadlines are key to an assignment because ... Show more content on Helpwriting.net ... With the knowledge that assignment is accomplished around the last hours before the deadline a new question is raised. Is it smart to make the deadline so late in the night? Alan Ward conducted a study claiming that since most students hand in their assignment right around the deadline would it be smart to make the deadline late ... Get more on HelpWriting.net ...
  • 4.
  • 5. Ath Technologies Inc.: Making the Numbers ATH Technologies Inc.: making the Numbers The case of ATH is centered on management taking particular strategic paths in order to achieve the desired organization objective(s). Beginning with the strategy of acquiring market share, Scepter implemented very attractive (personal) incentives in order to achieve this goal. These "earn out" incentives did indeed push for innovation, growth and market segment but it didn't put any controls on the amount of spending, thus ultimately leading to major losses. The incentives focused more on personal gain i.e.: "Make the company look good at what ever cost so I can get the pay out" sort of notion. It is a good scheme in terms of promoting for continuous developments and to share know–how and make ... Show more content on Helpwriting.net ... It would have been good if this fundamental vision was in place right at the very beginning of the company's formation. In the end it is the customers that make the company, so it makes sense to work towards satisfying this customer relationship. To become profitable and achieve market share are secondary objective that can be measured on a annual basis and overall company well being targets can be rewarded with incentives that link into the company's performance as opposed to individual contribution to the company's success. Instead of jumping to different achievement goals as problems arise, the visions and beliefs should have been determined first and that would help shape the overall goal of the company. While working towards goals such as profitability and growth, the visions and beliefs help keep employees in line and to some extent control the minimum expectations of the development of products, thus possibly lessen or avoid problems that did arise. The incentive scheme were not properly designed to take into account effects of employee actions and the impact it would have on the company as a whole and other stakeholders. It should some what reflect and reiterate these visions instead of promoting and motivating employees to be self interested in their own affairs and achieving the targets at "all costs". All in all, there were minimal controls and checks in place, it was more of a one way push towards the goals and not looking back ... Get more on HelpWriting.net ...
  • 6.
  • 7. Creating A Winning Employee Recognition Culture 12 Powerful Tips to Build a Winning Employee Recognition Culture About 65 percent of the people in one survey reported that they received no recognition over the last 12 months for their work. [Baudville.com: Top 12 Employee Appreciation Statistics https://ideas.baudville.com/h/i/200247240–top–12–employee–appreciation–statistics] In the same report, 89 percent of employers feel that most employees leave their companies to earn more money. However, most workers who leave their jobs cite lack of appreciation as a major reason for seeking other opportunities. HR departments, which are challenged to recruit and retain the best people, are the prime movers for implementing a culture that recognises employees, motivates them in their jobs and rewards them with essential psychological rewards that extend far beyond material incentives. Spending money on routine company gift cards isn't the same as offering personalised and specific praise based on an employee's performance. Gifts and incentives can reinforce any verbal praise, but providing honest and thoughtful recognition is one of the most critical things leaders and HR departments can do to foster a positive company culture where people enjoy working. Organisations with the most effective recognition strategies have 31 percent lower turnover rates due to voluntary migration of staff members. [Officevibe.com: Employee Recognition: The Complete Guide https://www.officevibe.com/employee–engagement– solution/employee–recognition] ... Get more on HelpWriting.net ...
  • 8.
  • 9. Old Testament: Incentives From Scripture Incentives from Scripture In economics, the meaning of incentives implies that this is the tool to inspire people to behave as predicted by those who make those incentives (James D. Gwartney, 2016). In another words, incentives are the motivations that make people to do some things more than others. In economical level, incentives make people to prefer one product over other based on the difference on their prices. The Bible is the guideline for Christians about morality, motivating believers to act in certain way (Williamson, 2005). One of the main incentives of the Old Testament was to act certain way to achieve salvation, which, however, changed in New Testament with coming of Jesus Christ. In the Old Testament times, people of God must ... Get more on HelpWriting.net ...
  • 10.
  • 11. Mary Parker Follett 's Leadership Mary Parker Follett had approached management in a different view than most managers of her time. Rather than seeing conflict as just that, a conflict, she thought a conflict could be a good thing. Mary believed that managing was not about dominating the employees, nor compromising with them but rather stating each of the preferences a person holds and striving to meet each of the personal needs together. She also believed that when a manager is giving orders, they need to thoroughly discuss the instructions as well as deal with resentment. Chris Kolbe believes his authority comes from his commitment to the company and his team, the way he approaches things and his performance. Kolbe states he draws it from what he does every minute, in how he communicates with his employees, and his directness. It seems as though Kolbe and Follett had similar managerial practices. Follett thrives for a work place where each person can express their personal preferences yet being respectful and mindful of those around them. Kolbe creates a work environment where each employee feels safe and enjoys working with him. He allows each employee to express their ideas and be their own person within the business. By putting each and every employee into the broader picture, they have a sense of belonging. This creates a thriving business. Also, Follett goes on to state that a manager needs to be direct and thorough about what needs to be done. Kolbe has these one on one talks with his employees ... Get more on HelpWriting.net ...
  • 12.
  • 13. Incentives: The Case Of Rugged Wrestling In Japan An incentive, as defined by the author is "a means of urging people to do more of a good thing and less of a bad thing." Incentives, and how people respond to them, are the corner stone in understanding human behaviors and modern life. In this chapter, the author has identified the three basic varieties of incentives; economics, social, and moral (Levitt and Dubner 17). Economics incentives are those which a person responds to the marketplace due to their individual financial interest. Social incentives are more related to actions which determine a person's social recognition in the society, whether it is shame or glory. The moral incentives, on the other hand, comes out of the conscience or conviction; a person's sense of right versus wrong. ... Show more content on Helpwriting.net ... Just as the street crimes per capita in cities are a lot higher than those in rural areas, theft incidents are more likely to happen in big offices than in small ones, as chances of being caught are higher in small offices as well as stronger social incentives in such a small community. More surprisingly, Feldman also found out that employees higher up in the cooperate hierarchy cheat more than normal employees. One reason might be due to their sense of entitlement, and their morale towards "white collar crimes" in which cases they can easily get away with their authority (Levitt and Dubner 45). His findings might explain the mechanism of the corrupted cooperative businesses, as well as in politics, where people with more authority are less likely to be detected using company's ... Get more on HelpWriting.net ...
  • 14.
  • 15. Short Term Incentive Pay System Short Term Incentive Pay A survey report for publicly traded companies administered by WorldatWork found that 99 percent of the 350 companies had some form of short term incentive pay system in place (Miller, 2014). Short term incentive pay compensates employees for achieving short term business goals that are typically a year or less. These goals can depend on factors such as the type of business, its specific strategy, and market conditions to name a few. Metrics for short term incentive plans can include financial metrics like revenue growth and profit maximization as well as non–financial metrics specific to the company, such as safety or quality assurance, customer satisfaction, and more (Fotsch & Case, 2015). Short term incentives normally reflect a percentage of the employee's salary or wage; there are threshold, target, and maximum levels that can be achieved providing different levels of compensation based on outcome. Short term incentive pay can involve individual employee performance, or group & company wide performance. Some examples of short term incentive pay include merit pay, bonus pay, and profit/gain sharing. Understanding the specific processes and benefits of these types of short term incentives allows employers to choose which plan saves the company the most money in terms of productivity and reduction of turnover. Individual Short Term Incentive Pay Over half (55%) of publicly traded companies offer an annual incentive plan or bonus plan to ... Get more on HelpWriting.net ...
  • 16.
  • 17. Employee Progress-Based Incentives Incentives are a great way to motivate employees to partake in wellness initiatives. Employees want to know that there will be a guaranteed gain for their participation. However, there are a number of laws and regulations at the federal and state level that impose requirements and regulate the use of financial incentives in certain types of wellness programs. The reward must be available to all similarly situated individuals. For instance, Weisberg (2013) explained that the program must allow a reasonable alternative standard (or waiver of initial standard) for obtaining the reward to any individual for whom it is unreasonably difficult due to a medical condition, or medically inadvisable, to satisfy the initial standard. As a result, employers ... Show more content on Helpwriting.net ... Steps can include enrolling in a weight–management program and reducing body mass index (Wieczner, 2013). Employers usually give employees about $100 for reaching a healthy weight (Wieczner, 2013). Employees appreciate progress–based incentives because it motivates them to improve their health instead of being penalized for not meeting a healthy weight. However, employers should understand that there can be complex reasons why an employee is over–weight or obese therefore, even progress–based incentives may not be enough to make an employee reach a healthy weight. Lastly, employers used targeted incentives to encourage healthy behavior. Employers or insurance companies crunch employees' health–risk, claims and other data to offer personalized wellness programs and incentives to employees (Wieczner, 2013). Incentives typically range from $100 to $125. The programs are personalized to increase participation among those who will benefit the most, however some employees may feel personalized interventions are intrusive and compromise their privacy (Wieczner, 2013). As a result, employers should survey employees before including targeted incentives in its wellness ... Get more on HelpWriting.net ...
  • 18.
  • 19. Financial Incentives For Improving Quality Of Care In the early 2000s, serious deficiencies in quality health care had been highlighted by the Institute of Medicine (James, 2012). Recently, the use of financial incentives to reward for improving quality of care is a growing interest for many. Pay–for–performance programs provide bonuses to health care providers for meeting or exceeding quality measures. However, physicians in the United States have traditionally been paid for quantity versus quality of care (Blum, 2011). Utilizing incentive models, such as patient–centered medical home, pay–for–performance, and the fee–for–service payments are the most commonly used programs. Incentive programs may also reward on improvements that occur over time, such as year–to–year decreases in hospital readmission rates or decreasing hemoglobin A1c values in diabetic patients (Blum, 2011). Hospital can incur financial penalties under the Medicare guidelines for individuals who acquire certain preventable conditions during their hospital stay, such as urinary tract infections from use of catheters and pressure ulcers. However, there is insufficient evidence to support whether or not financial incentives improve quality of primary health care. In addition, it is unclear whether financial incentives could potentially cause harm as they only incentivize based on certain health indicators. Therefore, physicians may spend more time focusing on meeting those indicators while paying less attention to other important issues ... Get more on HelpWriting.net ...
  • 20.
  • 21. The Use Of Merit Pay And Incentives Essay example The Use of Merit Pay and Incentives The purpose of this paper is to explore the use of Merit Pay and Incentives as motivators for increased productivity. The key focus is the system at Richmond Memorial Hospital. To do so, one must begin at the beginning..... The use of financial incentives (financial rewards) paid to workers whose production exceeds some predetermined standard was popularized by Frederick Taylor in the late 1800s. As a supervisory employee of the Midvale Steel Company, he had become concerned with what he called "systematic soldiering". This was the tendency of employees to work at the slowest pace possible and the fact that some of these same workers still had the energy to run home and work on their cabins, ... Show more content on Helpwriting.net ... Sooner or later, one has to rest...and so it goes. But, do note that a number of needs or motivators may be "acting" at the same time. In hospital settings, especially those that are undergoing restructuring needs are highly varied. The same employee who is driven by a salary motivator may now be driven by a long term security need as a motivator (REFERENCES??). Many times, if one is given a bonus for a job well done, the money is not the motivator, but the recognition is. Initial motivation can occur with the use of bonus or profit sharing. However since bonuses and other such incentive compensations occur perhaps as little as once a year, there must be other motivators at work to get an individual to work towards established goals. This is an important concept which must be understood in order to have any incentive compensation system work for the company and individuals (REFERENCES???). Implementing pay for performance plans, good management, and incentive plans will motivate personnel to perform at the peak levels necessary to bring about improvement in the bottom line which is what interests most corporations (REFERENCE?). With flatter organizations, and in most cases fewer employees, companies need to motivate their remaining employees to make a value–added contribution, take ownership, and be held accountable for their work (REFERENCE?). Historically, employees have been rewarded with increased base pay, ... Get more on HelpWriting.net ...
  • 22.
  • 23. Adoption Of A New Ehr Despite some barriers and challenges of EHR adoption, transitioning our office to paperless has become inevitable. Timely adoption of EHR would help our clinic receive incentives, merge paper records into the new database, and better organize patient information. In order to ensure the most seamless implementation possible, meticulous planning will be a must. First, the process of acquiring a new EHR system will start with developing an office strategy based on different needs of our clinic. Some critical questions should be asked such as what would be the main goal to go paperless, what would be some features that my clinicians regard important, would my practitioners need a remote access, or would they be committed in learning and using ... Show more content on Helpwriting.net ... Anita Ground also stresses on the huge importance of this planning stage by using a concept of system life cycle. It consists of feasibility study, analysis, design, programming, implementation, and lastly maintenance (Ground, 2011, VA TMS training material). The analysis phase in particular would coincide with what the author Yoshihashi is presenting in figuring out office strategy and researching EHR options. Identification of stakeholders and system requirement would play a critical role in EHR adoption (Ground, 2011). Stakeholders would include patients, family, clinicians, billing, registration, and coding as well as the external users such as Centers for Disease Control (CDC) and Centers for Medicare and Medicaid Services (CMS). Bottom line is that the new system being purchased would need to provide meaningful use to the clinic based on the current certification standards. Health information technology (HIT) consultants would be able to provide valuable guidance in filtering information and narrowing the search down to a few that can work for this clinic. In order to get the best recommendation among many vendors out there, the following information would need to be provided and answered. 1) The inputting method: keyboard, mouse, stylus, touch screen, or voice–recognition 2) Work–flow including telephone triage, lab ordering, appointments, scheduling, and ... Get more on HelpWriting.net ...
  • 24.
  • 25. The Importance Of Education In Education Education seems to be the only socially acceptable way to lower the world's endlessly growing population. Other methods, such as financial incentives, have been debated but without any real seriousness to come up with working programs that won't take advantage of people. Although it is important to see that these methods as opportunities to educate are becoming harder to come by. Education is only obtainable in places where there is some level of affluence and an established governmental foundation proficient of enforcing such a program. Ironically, the regions that are meant to be targeted are usually in a state that is inaccessible, impoverished, and economically fragile. So, since education is limited, and can only reach so far, other methods must be taken into consideration. An individual example of this would be to tax families that have more than two children. A business example would be to receive incentives such as tax cuts for installing solar panels on buildings. The goal of these policies is to change the ideas and beliefs from procreative mentalities towards lower fertility rates. Many of these changes can be made through propaganda and the media, as these are well known ways to push ideas out to the public. Although, not all solutions via the mass media are equivalent in morality. For example, logical persuasion is a seemingly sound method of shifting a culture's views in favor of or against an idea. Through propaganda, much can be achieved; due to how they ... Get more on HelpWriting.net ...
  • 26.
  • 27. An Organization For Employee Incentives Short Paper In any organization implementing employee incentives will only make the business flourish. An incentive is something that motivates an individual to perform to the best of their ability. Using incentives to motivate the employees can create a successful business, but it has to be done properly. In fact, employee incentives relate to positive reinforcements because if an individual gets rewarded for performing a task efficiently, then they are more likely to repeat that task again. Some people believe that money is as the only incentive to motivate employees, but that is incorrect. Money can only motivate employees when a task is simple and does not require conceptual, creative thinking. (YouTube) Consequently, money does not always influence individuals and may create an even bigger problem. According to the book, "An important principle is that the stronger the incentive intensity, the stronger the motivation, but also the greater the chance that there will be unintended, undesirable consequences." In other words, if there is a giant cash reward in play, this will increase motivation of all employees, which may lead to an unfortunate result because the employees will become stressed out. Therefore, the more a manager creates employee incentives the more the company will benefit in the end. Managers have to first start by treating their employees as people and nothing else. In fact, employee recognition programs create an increased sense of worth and improved ... Get more on HelpWriting.net ...
  • 28.
  • 29. Non-Financial Incentives vs. Commission for Retail Employees Running Title: Non–Financial Incentives vs. Commission for Retail Employees BACKGROUND Learning Express is a franchised educational toy store. We try to operate the store as a team with each of our employees possessing different skill sets (inventory knowledge, interpersonal skills, tasks). We also prefer that our more experienced staff take care of the checkout procedure. We also offer exceptional and more personalized customer service to encourage them to keep coming back as their toy needs grow and change. We offer customer special shopping opportunities if they spend a certain amount, sign up for our marketing list or join our Facebook page. We also offer many free or no cost events for their children such as holiday crafts, ... Show more content on Helpwriting.net ... NFIs would be smaller which would hopefully still motivate the employees to sell but would not be large enough to encourage people from trying to make all the sales by themselves. RECOMMENDATION The recommendation is an alternative to a commission structure for retail employees by offering non–commission incentives such as: Low cost incentives Discounts on merchandise– We currently allow employees to take a 25% reduction on any purchases. We could offer 30% off their next multiple purchase up to a certain amount or 40% off one item. Company parties– This option could take several forms but it would be important to us to keep it low cost. One option may be to close early one night and have a potluck. Or have everyone over for a movie night with popcorn. Tickets/ gift cards– This option has been successful in the past with the employees and seems prudent to continue. We ask the employees from where they would like to receive gift cards. They can be purchased in small increments, which is appealing to us, the store owners. Employees can work to get more gift cards and save them up for bigger purchases. Some past favorites have been gas, groceries, coffee, and movie gift cards. Non– monetary incentives Wear jeans to work– The employees have "uniforms," polo shirts with khaki pants. Jeans, for many, are more comfortable and relaxed feeling. We could even post a sign on the door that employees ... Get more on HelpWriting.net ...
  • 30.
  • 31. Greed And Incentives Essay "An incentive is a bullet, a key: an often tiny object with astonishing power to change anything" (Levitt 20). What professor Steven D. Levitt (a professor of economics at the University of Chicago's dictum here is that the incentive has a lot of power in this world). And that the metaphor of comparing "incentives"to a bullet really speaks wonders to their strengths. They can change almost any situation by motivating someone to do something in a business situation, all the way to education fields. After many years of college, business and economics students are being taught how to be greedy in college. It is only a matter of time before greed is too powerful. Incentives and greed both have favorable and critical effects on individuals and the populace, but when connected together both can have dangerous effects on future selections. Incentives give better options to companies, and can help motivate or create better environments. In this text from an incentive brochure states "Travel is the most glamorous and promotable of all of the award options, with around 40 percent of incentive users choosing it. However, even more than merchandise, it's a challenge to plan and manage. There are site inspections to be made, travel logistics to arrange, and meals, and entertainment that will please everyone"(Reward 2). The incentive is ... Show more content on Helpwriting.net ... He pauses for emphasis, tightens the knot in his power tie, then continues. "Greed clarifies, cuts through, and captures the essence of the evolutionary spirit"(Relin 1).This quote shows how the greed was created, and back then there was an incentive to have greed, and the diction of evolutionary spirit can be inferred that social darwinism is in play, with too much greed comes the dangerous choices, and these young people being filled with propaganda to be the best and only the strongest survive is absurd to ... Get more on HelpWriting.net ...
  • 32.
  • 33. Economic Incentives : Effect Of Social Disapproval citet{carpenter2006mutual} following similar work by citet{gachter2000cooperation}, provide empirical evidence that economic incentives can reinforce the effect of social disapproval. Both the mentioned papers consider groups of people ranging from five to ten. Each group plays ten rounds, and are then moved to a different group after each round in the `strangers ' treatment. There are three stages to each round, firstly they must contribute, secondly the contributions are made public and finally in the treatments that had a punishment round, players have an opportunity to punish another player at a cost to them self. The results of both papers show the trend that people who contribute less are punished and in later rounds they will contribute more. This suggests that punishment works, interestingly the willingness of players to punish cannot be explained in an economic sense as it is at cost to them. This is referred to by citet{bowles2004evolution} as `strong reciprocity ', this is defined as the willingness to enforce a social norm at material cost to oneself and no expectation of benefit for them or anyone else. In terms for this dissertation an action that cannot be explained by classical economic analysis which justifies actions with the self–interest motive, which suggests that the separability conditioned outlined by citet{bowles2008social} at the beginning of this chapter does not hold. Furthermore the behaviour of those that are punished cannot be explained with ... Get more on HelpWriting.net ...
  • 34.
  • 35. Incentive Pay, Employee Performance and Employee... Introduction Today, competition between the businesses is extremely high thus companies need to find ways to be competitive. Organizations prepare the best market strategy to increase the company performance and the ways to keep their employee motivation on the highest level to perform well within the competition. At that time, several incentive pay programs play an important role for every organization to perform well within the competition. Creating and implementing of incentive pay system supports to solve organizational problems to align the preferences of business and employees. In addition, the system serves as an organizing tool to identify and attract the most capable employees since companies need to deliver the product or ... Show more content on Helpwriting.net ... Relationship between Incentive Pay and Employee Work Performance An incentive pay program can reward employees who continue to produce superior work or encourage employees who already produce good work to best. Sometimes, use an incentive system when employees are lack of enthusiasm of getting down to work and improving things. If everyone in the same job classification gets the same pay, there is no real incentive to do an outstanding job (French, 1990). Various incentive plans used to motivate all employees such as production staff, sales staff, administrative staff and managerial and professional staff on an individual basis. To be improved employee work performance, the incentive pay programs need to be fairly matched with the employees' expectation. Properly designed and maintained incentive pay program has the potential to increase employees' productivity and work performance. There are three main types of incentive plans an organization can be practiced. These are individual incentive plans, group incentive plans and company–wide incentive plans. Moreover, suggestion plans and positive reinforcement programs can be considered as incentive plans (French, 1990). Flexible reward systems linked to an individual employee performance called individual incentive plans. Merit pay, piece–rate pay, bonuses and special ... Get more on HelpWriting.net ...
  • 36.
  • 37. Test Incentives For Organ Donations No one wants to voluntarily sign up for an unnecessary surgery, which is why there is a five to ten year wait limit for an organ donation. The New York Times Article "Test Incentives for Organ Donations – There's No Reason Not To," written by Sally Satel, states that in order to raise the number of donations, people should be rewarded (Satel). Based on the statistics Satel provides, she says altruism is not producing enough donations. Instead, she believes the government should offer some form of incentive to lure people into doing a good deed (Satel). Satel's article does develop solid points to teach readers about her topic effectively while simultaneously providing evidence to endorse her argument. She gets her purpose across by ... Show more content on Helpwriting.net ... She productively argues that not enough deceased donations will be enough to satisfy the wait limit (Satel). Satel's purpose here is to let her readers know that patients in need of a transplant do not have all the time in the world to wait for someone to save their life. She wants people to understand that waiting until death to donate organs kills others in the process of time. Not enough people die a day that actually qualify as organ donors to help the 100,000 people on the wait list (Satel). Satel uses this information as evidence as to why we need incentives for people to donate their organs; there is simply not enough willing participants that want to save another person's life. Satel's purpose was to inform readers of the crucial need of organ donors, which she believes can be solved by incentives (Satel). She managed this argument effectively by connecting the problem to someone's reality while addressing the issue with practical evidence. Since her purpose was executed flawlessly, so was her evidence. Every new issue that was brought up had supporting information that validated it. She admitted that many people would assume incentives for organ donations would just act as another way for the rich to feed off the poor. To counter that, she says, "the demographics of the waiting list indicate that recipients, themselves, are likely to be low– income" (Satel). Her next piece of evidence states that young people would also be interested ... Get more on HelpWriting.net ...
  • 38.
  • 39. The Pay For Performance Incentive Program Abstract The Pay for Performance incentive program is a new program being implemented across the United States to measure the quality of care within health care organizations. There are both positive and negative aspects of the Pay for Performance program that are based on information received from organizations who have implemented the program within their organization. The regulations the Federal Government has developed requirements for hospitals who serve Medicare patients as well as establishing four metrics that are used to measure the quality of the employee. Employees who work at an organization are given the opportunity to opt out of the Pay for Performance incentive program. This gives the employee the ability to make decisions on their income potential. Pay for Performance is a new aspect of the health care industry and will be used within the industry to measure quality of employees for the foreseeable future. Quality Health Care and Pay for Performance Incentives Pay for performance has been a topic debated for many years in a wide range of professional settings as a way to increase employee productivity by basing their pay on the quality of the employee's performance. Pay for Performance used within the medical community is defined as a payment system that offers financial rewards to medical professionals who meet or exceed specified benchmarks ("Pay–For", 2009). Most approaches adjust the payments to physicians and hospitals on the basis of ... Get more on HelpWriting.net ...
  • 40.
  • 41. Benefits Of A Incentive Pay For Teachers Incentive Pay for Teachers If you're a student, it may not be long before you find yourself in a classroom competing with peers from all over the world. With the ensuing tide of globalization, the top companies and firms will be able to look beyond students from local schools and access a growing global talent pool. Over the last two decades, countries around the world have focused on expanding and innovating education as the key to maximizing well–being, reducing poverty, and increasing economic growth. As a result, Canada may soon find itself trailing behind international standards, which would gravely impact Canada's ability to stay competitive with the global economy. Having spent the second–most out of 32 developed countries in the world, Canadians understand the importance of investing in education. Improving education outcomes is a key priority for governments around the world, if Canada wants to stay competitive it must be willing to innovate. One idea long neglected: incentive pay for teachers. It sounds simple enough: an honest day's pay for an honest day's work, those who achieve better results should be better compensated in return. But depending on who you ask, the notion is either rationally straightforward– or utterly perverse. The idea that teachers should be compensated based on their performance has Canadians entrenched in a heated debate. In 2014, a report published by the Fraser Institute advocating for teacher incentive pay was immediately met with ... Get more on HelpWriting.net ...
  • 42.
  • 43. Pay For Performance Incentive Awards Program For Reliance... Pay for Performance Incentive Awards Program for Reliance Partners LLC Due to existing economic expansion, many corporations are searching for new alternatives to get rid of the guaranteed benefits way of thinking, to using their limited budgets, for increasing performance. In modern–day business salaries increases are decreasing. In order to retain key employees, enterprises are turning to a more practical way of differentiating their employees and enhancing performance. To clearly create an associate between rewards and performance of the firm, they are using power tools like incentives and pay–for–performance programs. The results of switching to a performance philosophy help to draw, engage, and retain top talent. In this case, I will be using a hypothetical company, and assuming the role of Vice President of Human Resources that is required to design, support, and implement a Pay–for–Performance Incentive Rewards Program for both senior management and all the employees. Strategic Compensation In the current economic situation, companies are relying on strategic compensation as a new way to motivate, engage and retain their employees. Strategic compensation is a tool organizations use to improve motivation and increase performance, while linking its workforce with the company's objectives. Compensation when used strategically, it becomes a power tool that gives firms a competitive advantage (Snell & Bohlander, 2013). When designing a compensation plan, the company ... Get more on HelpWriting.net ...
  • 44.
  • 45. Incentive Plans Incentive Plans MGT/431 February 21, 2012 Incentive Plans Organizations provide incentive plans to employees as motivation to reach the objectives and goals of the company. Incentives are given to personnel to encourage them to do his or her best. Incentive plans in any business might include bonuses or raises, stock option plans, or other forms of incentives. This is in exchange for the employees who work harder, better, or faster in accordance with the organizations goals and objectives (Businesstown.com, 2001). The majority of incentives are performance–based policies in which workers receive additional cash or benefits centered on a worker's performance. Raises and Bonuses Most companies will award a base salary increase ... Show more content on Helpwriting.net ... The CSR would receive a candy bar of his or her choice or PTO for taking the most calls in a day. Each day the total calls are reported and the CSR with the most receives the incentive. Some CSR's will have competitions with each other. This is a way the employees motivate themselves. When all goals are met the team or teams receive a lunch party in which the company provides the funds for the event; this is a paid event for all employees. Some employees make his or her team goals a priority because the team goal incentive is always higher than individual goals. Conclusion Incentive plans are beneficial to an organization because it provides high productive results through teamwork; teamwork is an effective tool in an organization. For that reason, it is important to build an effective team and motivate them. The supervisor has the responsibility to motivate the employees; however, when incentives are given it will motivate the employee to do his or her best and in return the company will gain the maximum productivity of the employees (Businesstown.com, 2001). In the department I work for monetary incentives motivate the employees but nonmonetary incentives as simple as a candy bar or PTO work too. References Businesstown.com. (2001–2003). Choosing Incentive Plans. Retrieved from http://www.businesstown.com/people/compensation–plans.asp Salary.com. (2012, February 15). Raises and Bonuses: Will You be Rewarded for ... Get more on HelpWriting.net ...
  • 46.
  • 47. The Effect of Task Complexity on the Relation Between... 1. Introduction In this study I want to look at the effect of task complexity on the relationship between team–based incentives and performance. I will thus try to find whether task complexity is a moderating variable in the relation between incentives and performance and specifically try to find whether this effect differs for individual incentives and team incentives. When looking at incentive contracts in management accounting literature, usually theories from the field of economics and psychology are combined. In some circumstances these theories can lead to quite opposing predictions of the effect of incentives on performance. In general incentive contracts are a decision influencing control tool used to make sure that people's ... Show more content on Helpwriting.net ... For example Lazear (2000) empirically finds in a manufacturing environment that pay for performance increases productivity with 44%. On the other hand Bonner et al. (2000) find that only in about 50 percent of the experiments they examined, financial performance led to improvements in productivity. This thus means that the relationship between incentives and performance may be dependent on the situational circumstances and they do not work in every environment. Specifically in their review of experiments Bonner et al. (2000) find that when the complexity of the task increases (relative to the skill of the participants), the likelihood of observing a positive effect of incentives on performance decrease. Bailey and Fessler (2011) also find that monetary incentives are more effective when the task is less complex. On the other hand in a review of empirical studies on financial incentives and performance Jenkins et al. (1999) find that financial incentives are generally related to output quantity but not to quality. Furthermore, they find task type is independent of the relation between financial incentives and performance. If the performance on a complex task is more difficult to measure, the agent's effort thus has less influence on the performance measure (more noise, less sensitivity) and the measure is less effective. All the above studies are concerned with individual incentives. Apart from research on individual incentives there is also a lot ... Get more on HelpWriting.net ...
  • 48.
  • 49. Incentive Pay Incentive Pay (Research Paper) Outline I. Introduction II. Body A. Importance of incentive Pay plan. B. Types of incentive pay. 1. Individual incentive plans 2. Group incentive plans. 3. Companywide incentive plans. C. Advantages of Incentive Pay D. Designing incentive pay plans. E. Incentive pay and the motivational models. F. Problems. III. Conclusion. Abstract Quality of employees work is very critical for company's success. If planned properly, incentive pay plans may increase employee's interest in providing better service. This paper discusses ... Show more content on Helpwriting.net ... Individual incentive pay plans are most appropriate under three conditions; First, employee's performance can be measured objectively, Second, individual incentive plans are appropriate when employees have sufficient control over work outcomes, Third, individual incentive plans are appropriate when they do not create a level of unhealthy competition among workers that ultimately leads to poor quality. Individual Incentive plans reward employees for meeting such work–related performance standards as quality, productivity, customer satisfaction, safety or attendance. Any one of these standards by itself or in combination may be used. A company ultimately should employ the standards that represent work that an employee actually performs. When designed and implemented well, individual incentive plans reward employees based on results for which they are directly responsible. The end result should be that excellent performers receive higher incentive awards than poor performers. There are four types of individual incentive plans; Piecework plan. Under piecework plans an employee's compensation depends on the number of units he or she produces over a given period. Management incentive plans. These plans award bonuses to managers when they meet or exceed objectives based on sales, profit, production or other for measures their ... Get more on HelpWriting.net ...
  • 50.
  • 51. Benefits Of Employees And Employees At The Workplace Is... Harvard Business School Professor Michael Beer stated "I think there is an implicit negotiation going on between what management wants and expects, and what employees want and expect" (Lagace, 2003). One aspect of the ongoing negotiation between employers and employees in the workplace is the utilization of incentive pay plans. Employers utilize incentive pay plans to motivate and change employee behaviors in order to prioritize behaviors and outcomes that the employer is looking for. Pay for performance appears to be a common sense solution to motivate employees. It creates a reward system for employees that is tied to job performance and meeting criteria that the employer values (Taylor, 2013). While the idea of offering financial incentives to employees appears to be grounded in business principles and ideas that have existed for a long time, they are not always successful. In order to for pay for performance incentive tools to live up to their potential in the workplace they must be crafted to meet the needs of organization as well needs of the employee, the plan must also be maintained and evaluated on a regular basis. Failure to do so can cause more harm than not utilizing one. Furthermore, there is a growing body of research pointing to the idea that incentive or rewards are not the solution for improving employee performance that they were portrayed to be. There are several different types of incentive plans "that can be tied directly to business objectives ... Get more on HelpWriting.net ...
  • 52.
  • 53. Operations Management's Incentive Programs Incentive Programs And Their Effect On Operations Management In spite of numerous assertions concerning the putative significance, there has been small experimental appraisal of incentive stipulation for workers. Because it is assumed that the interests of workers and their employers are not all the time equal, a grand conceptual literature has accentuated how firms map compensation agreements to persuade employees to work so as to obtain the firm's desired objectives. Like the piece rates, efficiency wages, options, promotions, profit sharing, discretionary bonuses, deferred compensation, and others. There is an assumption that people acknowledge to agreements that compensate performance. Thus, to state whether or not the agreements look like the theory of forecasts. Firms give incentives to workers by way of the compensation applications of firms, circuitously observing, assessing, and agreeing, and applying various gadgets to put in line the objectives. A few workers like the employees that work in the sales department are principally rewarded due to their pains by way of clear–cut agreements that link the rewards to espied standards of performance. While it is also observed that other employees are rewarded but not on the personal standards of performance in contrast on more combined standards. These standards may be like the one having the profit–sharing attributes. Nonetheless, various employers abstain from the operation of clear agreements, favoring to reward ... Get more on HelpWriting.net ...
  • 54.
  • 55. Compensation and Benefit System Proposal Essay example Holland Enterprises is on a new strategic direction, to attract and retain the most talented employees and to reduce turn over. Human resource department has came up with a new compensation plan. In the propose compensation and benefits system plan , I will explain a new compensation plan for Holland Enterprises, also I will explain the components of the compensation and benefit system plan in order to attract and motivate employees to be productive . In order for the compensation and benefits system plan to be operational, the package should include a necessary level of compensations to fulfill basic needs, equity with the external labor market, equity within the organization (Henderson, 2006). First Ashley Nuese, director of ... Show more content on Helpwriting.net ... The propose compensation and benefit system plan is about financial as well as non–financial benefit. Having a combination of financial and non–financial benefits is needed to motivate and to attract and retain employees for Holland Enterprise to accomplish its goals as a company. It is noteworthy to state that this to be operational is that employee need to able to see that the non– financial benefits are as respectively important as the financial benefits to the job positions they hold. A great opportunity lay in employee recognition. Employee recognition will be nonfinancial benefits offered to employee. This non–financial benefit allows management to proper recognize and foster employee loyalty as well reinforce positive work behavior and encourage for repeat performance in all areas of the job (Henderson, 2006). Another non–financial benefit for employee is training. Training will allow employee gain additional knowledge and expertise and to be up to date with new technology open opportunity to advance in their career. These non–financial benefits allow management to make sure employees are value. Including employee in department meetings and allowing employee to have a say so in decision making demonstrates respect for employee and it allow the ... Get more on HelpWriting.net ...
  • 56.
  • 57. Best Performance Incentive Plan The best performance incentive plans are the ones that work, of course, but what works for employees – cash or days off – might not be what your organization can afford. Incentive plans that are effective at motivating billers must be affordable and targeted to specific results. Most importantly, they must be finite – that is, not a permanent entitlement. Put careful thought into the design, goals and timing of any incentive plan – big or small. Use these 10 tips to shape your organization's incentives for billers: 1. Recognize that the revenue cycle is a function of many factors Billing is an operational process, not a desk or a department. Your incentive plan should recognize that everyone in the organization plays a role in the process. ... Show more content on Helpwriting.net ... Evaluate annually. Review your incentive plan's overall results annually against the performance it is supposed to inspire. In some cases, you may be able to put a cash value on the plan's impact: for example, the number of reduced denials from practice–caused errors times the cost of reworking a denied claim. Once you reach a goal, such as collecting 100 percent of patient copayments at time of service, move on to other targets. 10. Consider non–monetary awards. The problem with most financial incentive plans is that they become an expectation, which means they are no longer motivating better performance but merely maintaining the status quo. Staff may come to view the additional cash as part of their normal compensation. They may even start depending on it. After the plan expires, morale (and results) can suffer as staff perceive that you took something away from them. You can alleviate many of these issues by sticking to short–term plans–three to six months. Better still, consider a non–monetary incentive plan. Non–monetary awards can work well, and maybe better than cash awards, because they are perceived as more spontaneous and ... Get more on HelpWriting.net ...
  • 58.
  • 59. The Concept Of Incentives And The Way Of Which Humans... Sandel next adresses the concept of incentives and the way in which humans respond to them. Individuals act in order to maximize their own welfare and therefore respond things that allow them to do so; these things are known as incentives. Sandel provides us with the example of students who where offered financial incentive to do better in school. However the reaction to the incentives differed from the standard economic model. While paying students who passed AP exams did increase over all success, the results indicated that the amount of money payed made no difference in the amount of achievement. While the did serve its purpose as an incentive, the money did not act as a bribe but rather as an agent that changed the stigma associated with AP testing making it "cool" for students to do. While there do exist benefits to offering incentives, there also exists ramification known as perverse incentives. The notion of perverse incentives deals with the idea that by placing a market price on a certain act, the meaning of the act itself may become blurred. Sandel offers the example of fine Vs. fees where parents would come late to pick up their children from day care and treat the fine for coming late as a fee for extended service. By placing a market value on the extended time care takers had to work, parents no longer felt guilty about leaving their child later till later hours and therefore eroding the original purpose of the fine. At this point Sandel moves to the ... Get more on HelpWriting.net ...
  • 60.
  • 61. Perceiving The Actual World Like An Economist Essay Perceiving the Actual World Like an Economist Through out the entire book Freakonomics, Levitt and Dubner, emphasize how people are constantly responding to incentives, and how these incentives motivate and affect people's decision making in their daily lives. The authors of this book talk about economics from a different perspective, and they do it by relating unusual and unasked questions to the field of economics. Levitt and Dubner define an incentive as the "means of urging people to do more of a good thing and less of a bad thing" (Levitt and Dubner 17). These incentives are usually what drive people to get what they want or need especially when resources are scarce and others want the same things. In this book, the authors define three types of incentives – economic, social, and moral – which are measured by people's responses (Levitt and Dubner). From childhood, humans are constantly responding to incentives and learning from them. In Chapter 1, Levitt and Dubner explain some of those incentives by presenting a study based on 10 day–care centers in Israel. The study focused on the parents' responses after the day–care centers announced a $3 fine for each time they picked up their kids 10 minutes later than the stated policy. The $3 fine caused the opposite effect that the managers of the day–care centers wanted: instead of reducing the number of tardy parents, it caused an increase of the number of late pickups. The reason for the increase of tardiness pickups was ... Get more on HelpWriting.net ...
  • 62.
  • 63. E-Prescribing is an Incentive by the Centre for Medicare &... E–Prescribing is an incentive by the Centre for Medicare & Medicaid Services (CMS). It allows the electronic transmission of prescriptions between qualified medical practitioners and physicians. The aim of the program is to improve the drug prescription system by avoiding errors resulting from handwritten prescriptions. The E–prescribing program runs on various standards. These standards are spelt out and added in Part D of the Medicare Prescription Drug, Improvement, and Modernization Act 2003 (CMS, 2013). The standards outline clearly the eligibility criteria for prescribing physicians and participating pharmacies. The standards also inform participants on best practice in issues regarding refill prescriptions, cancellation of prescriptions and changes in prescription among other things. Moreover, the standards cover administrative guidelines regarding the operation of the system. The standards also cover the drugs covered by the benefits program of the E–Prescribing system. There is a standard on medical history that allows prescribers access information on drugs currently available to the patient so as to guide them in the prescription service. Fill Status Notification is a standard that allows prescribers follow up on the prescriptions status such as it's been picked up or not (CMS, 2013). This standard serves to allow prescribers follow their patients' adherence to prescriptions. The E–Prescribing Program was developed on a timeline. In November, 2005, the initial ... Get more on HelpWriting.net ...
  • 64.
  • 65. Small Group Incentive Pay Traditionally, most employers compensated their employees based on a set hourly wage or annual salary (Martocchio, 2013). Today, there are many companies that utilize incentive pay programs to replace part or all of the base pay to manage payroll expenses and to connect pay to performance. Incentive pay, also referred to as pay–for–performance or variable pay, rewards individuals for partly or completely achieving a predetermined goal (Martocchio, 2013). Basically, incentive pay is compensation, outside of the employee's regular wages, which can vary depending on whether or not the employee achieves predetermined goals (Martocchio, 2013). In this particular case study, Jack Hopson, an employee of Metropolitan Furniture Company, requested ... Show more content on Helpwriting.net ... An employer can benefit from a team–based incentive plan, in the same way they would benefit from a commissioned sales staff (Auchterlonie, 2009). Essentially, when performance measures are met, both the employer and the team members profit. Nevertheless, if the goals are not met, the employer would lose less than he normally would pay employees a straight hourly or salary wage (Auchterlonie, 2009). However, one particular advantage of a team–based incentive pay plan is the feeling of peer pressure. Consequently, when a member of the team is not performing or pulling their share of the weight, team–based incentive pay plans helps team members holding their peers accountable (Zenger & Marshall, 2000). Typically, this type of peer pressure aids in preventing anyone from being singled out as a slacker. Most people do not want to let their team members ... Get more on HelpWriting.net ...
  • 66.
  • 67. Airport Air Service Incentive Programs k. than 1% of national system delays or one that has been identified as a currently congested airport or future congested airport in specified FAA national airport capacity studies. For congested airports, the 2008 amendment provides for the following: Confirms the right to establish a reasonable, properly structured peak and off peak fee system so long as total revenues do not exceed allowable costs; Permits a congested airport to increase its fees to subsidize FAA designated secondary airports in the system, and thereby encourage the use of the secondary airports, provided that total revenues do not exceed allowable costs of the airport system; Permits a congested airport to include the capital costs of project under construction in its rate–base for fees charged during periods of congestion if doing so would relieve or avoid current congestion. Permitted costs are limited to those actually incurred and future charges for the project once it is operational must be reduced by the amounts charged during construction. l. Air service Incentive Programs: A Sponsor may grant reasonable and not unjustly discriminatory discounts or fee waivers included in an air service incentive program. Requirements for a permissible program include, but are not limited to the following: The program must have well–defined criteria and be open to any carrier or service meeting the criteria; Incentives for particular service must be limited in time, with the maximum duration depending on the ... Get more on HelpWriting.net ...
  • 68.
  • 69. Evidence-Based Incentives Summary: Lifestyle and behavior among adults has been the topic of major concern in the recent years. Unhealthy lifestyle behaviors have the potential to exacerbate chronic conditions like cardiovascular diseases, stroke, elevated blood pressure levels, diabetes, and obesity. Substantial improvements in behavior and lifestyle of individuals can help curb these high rates of obesity and avoid devastating effects caused by chronic health problems. Among the options available, evidence–based studies suggest that providing financial incentives could be a better way to encourage change towards sustainable healthy behaviors. These include providing discounts on premiums, co–insurance or deductibles, providing large amount or rewards for reaching the targeted health outcome. But these have proven to be beneficial only for short–term and only for certain groups of individuals. In order to increase the likelihood of long–term success on the path to health and wellness, I recommend the policy should consider providing progress–based incentives, and long–term targeted incentives for specific high–risk individuals. Background: Recent reports by Centers for Disease Control and Prevention (CDC) show that more than two– thirds of adults and one–third of youth in the United States are obese (Ogden, C. L., et al, 2014). Increased rates of obesity are mainly responsible for serious health problems, rising health care costs, and rapidly decreasing health outcomes. The escalating rates of ... Get more on HelpWriting.net ...
  • 70.
  • 71. Statistical And Factual Analysis Of Encompassing... The purpose of my research paper will be to inform the reader with statistical and factual analysis encompassing Incentives and reward based programs. We will evaluate various incentives to see if this macroeconomic incentivized/rewards based process does indeed drive business and generate more growth amongst companies via rewards and loyalty programs towards the general population of consumers. This analysis surrounding incentives will also be comprised of the price and demand structures to tie into how companies also utilize their rewards, customer loyalty plans and coupons during different times of the seasons to boost sales and establish a bond with the ones they are selling to, the consumers. U.S. consumers hold 3.3 billion memberships in customer loyalty programs, the 2015 COLLOQUY Loyalty Census shows, a 26% increase over the number of memberships reported in COLLOQUY's last census study in 2013 (Colloquy, 2015) With loyalty programs established this helps to generate a repeat customers which drives profits and promises future revenue. Consumers need an incentive to purchase a product at a certain place. When Loyalty programs are in place it helps the consumer relate to the product and funnels them towards the product in which they feel that they are apart of. They can build exclusive points and incentives when products are purchased and are then able to use those rewards points at a later time to purchase more goods or even get a portion of the cash back. ... Get more on HelpWriting.net ...
  • 72.
  • 73. Economic Incentives Essay Discussion Board Forum 1 Topic: Economic incentives Then discuss your topic in an original thread by 11:59 p.m. (ET) on Friday, and reply to at least 2 classmates' threads by 11:59 p.m. (ET) on Monday. Be sure to include the following: * In the first paragraph, discuss the relevant economic theory of your topic (your textbook is a good source for this paragraph). * In the second, you must include outside research to corroborate your thread (from the Liberty University Online Library or elsewhere). * In the third, cite and discuss a real–world example of your topic. * In the fourth, integrate biblical insights into your Discussion Board posts. Economic incentives are used to influence a person. The postulate ... Show more content on Helpwriting.net ... Incentives are seen everywhere in daily life and they appear in a variety of ways. Whether a person is making a choice between what to eat for lunch or when to go to bed, they are being influence by incentives. For example, images of an appealing lunch meal in a TV commercial may make someone choose Subway over Mcdonalds. However, the same thought process can motivate someone to prefer a meal at McDonalds because of the company's constant promotion of their "dollar menu" (Mcdonalds, 2013). Either of these incentives can appeal to a person, depending on what they are motivated by, in this case, either health or money. The Bible is full of different forms of incentives. Some people can skim the Bible and note its major incentive; the opportunity for eternal life. However a deeper knowledge of what God says shows many more incentives. Other incentives are exemplified in the Bible: believers have faith which gives them peace (Romans 5:1), faith leads to loving the Creator and experiencing His love (Psalms 85:10), and the knowledge of right and wrong gives an opportunity for forgiveness (Acts 2:38). All of these reasons for believing the Bible, along with many more, can motivate a person to choose that specific approach to life. In its essence, an incentive is a deliberate proposal calculated to make a person choose a certain action. Thus, the reason why incentives are so popular in society is because everything and ... Get more on HelpWriting.net ...
  • 74.
  • 75. Essay about Revamping the Mary Kay Incentive Program Revamping the Mary Kay Incentive Program Executive Summary This proposal will attempt to revamp the Mary Kay incentive program. The three problems I am going to address are: the morale of consultants, motivational/stagnation of sales, and poor or weak directors and consultants. In addressing these issues I am going to be referencing other business that have used different motivational techniques in these situations. At the end of my proposal I hope to have at least 3–4 viable options that could be implemented in the Mary Kay Company to fix the problems mentioned above. Introduction: The Problem The problem facing Mary Kay Inc. today is that their incentive program is not working. Based on the data used in Mary Kay ... Show more content on Helpwriting.net ... The interest levels of each leased vehicle increased and automobile insurance premiums escalated. All of these contributed to the increased cost of the VIP program. Source: Mary Kay Cosmetics: Sales Force Incentives The Current Challenge: According to top management within Mary Kay Cosmentics, the top objectives for a new plan are : • Improve profit margins by reducing overall beauty consultant compensation as a percent of sales. • Enhance the beauty consultants' career path with more distinct milestones and forms of rewards. o More well trained directors to be prepared for the roll of directors. o Continuance of sales past director level (delete stagnation) o Minimize the cost to the firm of maintaining low–performing consultants. Source: Mary Kay Cosmetics: Sales Force Incentives Thoughts: What is needed in the program Per an article from 2006 Buyer's Handbook, the first things that we need to determine when creating or altering an incentive program is what we want this incentive program to accomplish (see above). By taking a poll and/or asking the directors within the corporation that are going to be winning the incentives what would motivate them, as well as explaining the goals in revamping the program, we would have a more appropriate idea of which way to take the revamp. When asking a source,
  • 76. Deborah Hall, who is a "VIP" within the Mary Kay company "what would motivate you besides the use of a ... Get more on HelpWriting.net ...
  • 77.
  • 78. Do People Respond To Incentives Do people respond to incentives? What is your opinion? "People respond to incentives" (Mankiw). An incentive is "something that encourages a person to do something or work harder" (Incentive). It says right in the definition that it is motivating. Since "people make decisions by comparing costs and benefits" (Mankiw), when there is an incentive, or larger benefit, they will make a different choice. When people are shopping at grocery stores and two brands of cereal are the same price but one includes a prize inside, this prize acts as an incentive for the customer to buy that brand of cereal. Any time a benefit is available, the chances of that option being chosen increases. Why would restaurants like McDonalds and Burger King provide ... Get more on HelpWriting.net ...