Financial benefits may be an extremely strong determinant of worker motivation and performance which, consequently, can lead to returns that are significant in terms of company-level output. Nevertheless, the monetary rewards do not necessarily lead to these popular consequences. We discuss when it comes to improving employee performance cannot do and what financial benefits can, and reasons why, in this installment of Individual Performance. Additionally, we provide research-based recommendations, including the subsequent five general principles to guide the design of financial benefit systems that are successful:
What Monetary Rewards Can and Cannot do How to Show Employees the Money Case Study Solution
(1) define and measure performance correctly, (2) make benefits contingent on performance, (3) reward workers in a timely manner, (4) keep justice in the wages system, and (5) use monetary and nonmonetary rewards.
PUBLICATION DATE: March 15, 2013 PRODUCT #: BH525-PDF-ENG
This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE
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