Today in class we finished up chapter 11 discussing incentives. The class got into a good discussion about incentives and we heard a lot of different point of views. After we got in our groups and discussed chapter 12. Then we discussed effective incentive plans. In order for an incentive plan to be successful it needs to follow the rules below:
1. performance measures linked to organization's goals
2. Employees believe they can meet standards
3. Organization gives employees resources needed to meet goals
4. Employees value rewards
5. Employees believe reward system is fair
6. Pay plan takes into account that employees may ignore any goals that are not rewarded
After that we got into groups and discussed different incentive plans and wrote down pros and cons that we will share next time in class.
Reflection
15 years ago
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