Results that are made during the design and implementation of a pay for performance system are critical. Therefore, company decision makers should sensibly consider their design options with full awareness of potential advantages and disadvantages. Organizations must adapt pay for performance systems to their mission and environment. Organizations have several options when designing a pay for performance system. These options include the coverage of a pay for performance system, the types of performance to be rewarded, how performance will be measured, the form that pay for performance will take, and the delegation and review of pay decision. A choice that is appropriate in one organization may be ineffective or counterproductive in another.
Design a proposal for a pay-for-performance plan for your organization. In your proposal, explain your rationale for the plan and how it would support the objectives of the organization. My proposal for a pay-for-performance plan for The Walt Disney Company would be Team Incentive Plan. This method focuses on teams formed within the company. Team based incentives are a means of passing information to employees that their output and performance are …show more content…
Performance measures are easily developed and exchange between groups and individuals within groups foster team spirit (McGraw-Hill/Irwin, 2002). Team incentives also increase participation of employees in decision-making, sharing of knowledge, cushions and protect individual employees who may feel exposed by individual incentives, and is highly supported among employees (McGraw-Hill/Irwin, 2002). Team incentive plans boost interrelation between employees and management, makes each one feel part of the whole, lead to co-operate problem sharing and a greater correlation between individual rewards and organizational profits (Milkovich,
Design a proposal for a pay-for-performance plan for your organization. In your proposal, explain your rationale for the plan and how it would support the objectives of the organization. My proposal for a pay-for-performance plan for The Walt Disney Company would be Team Incentive Plan. This method focuses on teams formed within the company. Team based incentives are a means of passing information to employees that their output and performance are …show more content…
Performance measures are easily developed and exchange between groups and individuals within groups foster team spirit (McGraw-Hill/Irwin, 2002). Team incentives also increase participation of employees in decision-making, sharing of knowledge, cushions and protect individual employees who may feel exposed by individual incentives, and is highly supported among employees (McGraw-Hill/Irwin, 2002). Team incentive plans boost interrelation between employees and management, makes each one feel part of the whole, lead to co-operate problem sharing and a greater correlation between individual rewards and organizational profits (Milkovich,