4.4- Group rewards

4.4- Group rewards - Unit 4, Lecture 4: Performance...

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PERFORMANCE MANAGEMENT CONCEPTS Prof. John Kammeyer-Mueller MGT 4301 Unit 4, Lecture 4: Performance Management
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Plan Where we are Understand how companies establish pay policies for jobs Understand how companies provide benefits for employees Where we want to be Understand how pay can be modified to fit the individual How we know how we’re doing What do each of the following theories say about incentive compensation plans? Expectancy Agency Goal setting Cognitive evaluation Risk aversion Unit 4, Lecture 4: Performance Management
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Consider the Case of an Interdependent Team Restaurant shift What is the organization’s measure of success for this team? Can all individual contributions to this success be measured easily? What are the impacts of individual performance rewards provided to servers on the basis of tips, to bus staff on the basis of server sharing of tips, and cooks on the basis of speed and accuracy of prep? Research and development team at Apple What is the organization’s measure of success for this team? Can all individual contributions to this success be measured easily? What are the impacts of individual performance rewards provided independently to software, hardware, and marketing employees? Unit 4, Lecture 4: Performance Management
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Individual versus group based pay for performance Unit 4, Lecture 4: Performance Management Organizational performance •Stock price •Revenue Group performance •Factory or shift output •Sales per shift •Team project completion Individual performance •Units per hour •Individual sales •Specific behaviors at work Increasing individual control Increasing group cooperation
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Comparing Levels of Measurement to Our Incentive Theories Which provides better motivation in terms of expectancy? Which better resolves agency problems? Which fits more with goal setting? Which is more consistent with cognitive evaluation theory and maintaining intrinsic motivation? Which provides greater protection from risk? Unit 4, Lecture 4: Performance Management
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Individual versus group based pay for performance Equity theory and group rewards Situation: rewards divided evenly among a group of students, even though some worked much harder than others Reactions Those who are lazy are quite satisfied Those who work hardest are upset Unit 4, Lecture 4: Performance Management
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4.4- Group rewards - Unit 4, Lecture 4: Performance...

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