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Financial Incentives: Boosting Performance with Pay for Performance Strategies

Explore the effectiveness of financial incentives in boosting employee performance, linking strategy with incentive pay, and understanding motivation theories such as Maslow's Hierarchy of Needs and Herzberg's motivators. Learn about incentive pay terminology, individual and professional employee incentives, and effective incentive program design. Discover insights on incentives for sales people, managers, executives, and organization-wide incentive plans. Gain knowledge on implementing and maximizing the impact of incentive programs in practice.

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Financial Incentives: Boosting Performance with Pay for Performance Strategies

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  1. PAY FOR PERFOMANCE AND FINANCIAL INCENTIVES Nama Kelompok : • Erwin Winarjo (2014021002) • AnggitaKusumaDewi (2014021018) • ArifAgusSetiawan (2014021019)

  2. 418 MONEY AND MOTIVATION Financial Insentives Productivity Gains Boost Employee Perfomance

  3. Linking Strategy, Perfomance, and Incentive Pay 418

  4. Motivation and Incentives The Hierarchy of Needs and Abraham Maslow Motivators and Frederick Herzberg Demotivators and Edward Deci Expectancy Theory and Victor Vroom Behavior Modification/Reinforcement and B.F Skinner 419 - 420

  5. 421 Incentive Pay Terminology Employee Incentives and the law

  6. Individual Employee Incentive and Recognition Progams Merit Pay as an Incentive Piecework Plans Straight Piecework Differential Pay Increases Standard Hour Plans Merit pay options Pros and Cons 422 - 423

  7. Incentives for Professional Employees Nonfinancial and Recognition Based Awards 424

  8. Online and IT Supported Awards Job Design 426

  9. 426 - 428 INCENTIVES FOR SALES PEOPLE 2 3 1 SALARY PLAN COMMISSION PLAN COMBINATION PLAN 5 4 HOW EFFECTIVE ARE YOU INCENTIVES ? MAXIMIZING SALES FORCE RESULTS

  10. 429 - 430 INCENTIVES FOR MANAGERS AND EXECUTIVES 1 2 STRATEGY AND THE EXECUTIVE’S LONG-TERM AND TOTAL REWARDS PACKAGE SARBANES - OXLEY

  11. 430 - 431 ELIGIBILITY 3 FUND SIZE SHORT – TERM INCENTIVES AND THE ANNUAL BONUS INDIVIDUAL PERFORMANCE FORMULA

  12. 432 - 433 CONTINUED… STOCK OPTION STOCK OPTION PROBLEMS 4 STRATEGIC LONG-TERM INCENTIVES OTHER STOCK PLANS ETHICS AND INCENTIVIES 5 OTHER EXECUTIVE INCENTIVIES

  13. 433 - 434 TEAM AND ORGANIZATIONWIDE INCENTIVE PLANS How to Design Team Incentives

  14. 434 engineered TEAM

  15. 434 - 435 Evidence-Based HR: Inequities That Undercut Team Incentives Profit-Sharing Plans

  16. 435 - 436 Scanlon Plans of sharing of benefits formula system

  17. At-Risk Pay Plans Other Gainsharing Plans Employee Stock Ownership Plans BROAD-BASED STOCK OPTIONS 436 - 437

  18. 437 - 439 DESIGNING EFFECTIVE INCENTIVE PROGRAMS Incentives Plans in Practice The Five Building Blocks of Effective Incentive Plans Link the incentives with your strategy Set complete standards Make sure the program is motivational Does it make sense to use incentives? Be scientific

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