Pay for Performance and Merit Pay Issues

.The Wisdom of Merit Pay

By Gene Levine - Progressive management is going beyond the straight incentives paradigm and no longer accepts as gospel the idea that just individual incentives always provides the best motivation and improved attitudes %u2013 in relation to the dollars spent. As empowerment suggests, production is not the only thing needed from workers and workers have wants and needs far beyond money. Straight incentive systems appear to be failing at an alarming rate causing increased willingness to seek out viable alternatives, among them merit pay plans. Straight incentives are rigid, merit pay is not. Merit pay plans can be designed to stress quality, attendance or any other measurable factor you wish to improve. Merit-factor incentive pay plans use merit elements selected independently of a worker's output (Added: 13-Aug-2005 Hits: 1211 )

Bang For Your Buck

By na - People management obviously is a complex area, and one where most advisors are looking for guidance and development. But don't shy away from defining performance expectations for the individuals in your firm and paying them based on their performance. (Added: 19-Dec-2005 Hits: 675 )

Bonuses Aren't Just for the Bosses

By Tim Bower - Brad Hill is teaching rank-and-file workers in tough jobs how to devise incentive plans. In the process, they're being rewarded with things that money can't buy -- more dignity and a greater sense of purpose. (Added: 19-Dec-2005 Hits: 685 )

CEO Pay: The New Rules

By John S. McClenahen - For CEOs and other senior executives in manufacturing, performance-related bonuses are up, stock options are less popular and per-formance-tied long-term incentives are more common. But will they make for better management decisions? That's not yet clear. (Added: 19-Dec-2005 Hits: 618 )

Creating an Effective Pay for Performance Culture

By David - At last month’s HR.com virtual tradeshow one of our customers gave a presentation about how to foster a performance oriented culture - one in which employees focus on the organization’s goals. Ron Bates, Human Resources for Harbor Group International had some great points to make about how HR can help develop individuals to adopt high performance attitudes, emotions and behaviors; ultimately fostering collaboration and teamwork. (Added: 17-Oct-2009 Hits: 114 )

Executive Comp: Pay Without Performance : HBS Working Knowledge

By Mallory Stark - Out-of-control executive compensation schemes are widespread, persistent, and systemic,and new reforms won't clean up the mess, argue law professors Lucian Bebchuk and Jesse Fried. Q&A and book excerpt. (Added: 19-Dec-2005 Hits: 477 )

Incentive Pay or Pay for Performance

By Gregorio Billikopf Encina - Incentive pay, also known as "pay for performance" is generally given for specific performance results rather than simply for time worked. While incentives are not the answer to all personnel challenges, they can do much to increase worker performance. In this chapter we discuss casual and structured incentives. Although each rewards specific employee behaviors, they differ substantially. In structured incentives, workers understand ahead of time the precise relationship between performance and the incentive reward. In a casual approach, workers never know when a reward will be given. (Added: 19-Dec-2005 Hits: 971 )

Rewards and Compensation