Ch 9 - Incentive and Benefits Administration_Web

Ch 9 - Incentive and Benefits Administration_Web -...

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    Incentive and Benefits Administration Chapter 9 Types of incentive programs, creating  effective programs, and understanding  benefit programs
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    Incentives and Benefits Combine programs with salary & wages to create  a total compensation package When designed properly can lead to certain  advantages, such as employee retention increased _______________ , reduce  labor costs increased ee focus on  organizational goals
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    Effective Incentive Programs Specific  goals that ee’s  understand Fair, easy-to-measure   goals Room for ___________ Goals must be attainable Rewards must be  substantial enough to  encourage effort Link to both short-term   rewards & long-term  advancement Link to productivity , not  time invested Reward quickly
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    Barriers to Effective Incentive Programs Rewards are set too low No clear ________ between rewards and  performance Supervisors resist or improperly administer  performance appraisals thus leading to feelings of  unfairness among employees Unions opposes pay-per-performance system
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    Individual Incentive Programs Most effective when: Desire is for individual improvement Work is NOT too interdependent Group Incentive Programs Most effective when: Desire for cooperation and coordination is the goal Teamwork is essential for to meet the goal Individual vs. Group Systems
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