Understanding Pay-for Performance Programs
Tags: PERFORMANCE awards; INCENTIVE awards; PAY for performance; EXECUTIVES; MEDICAL personnel
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The article focuses on performance awards. Federal managers have several options, according to the Merit Systems Protection Board. Agencies can periodically award appropriate items of nominal value.
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Comments on the use of merit pay as an incentive award for university faculty. Organizations where merit pay should not be used as an incentive; Problems that may be caused by the merit-pay system.
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Managers wish to motivate workers to exert effort. There is large literature on the use of wages and monetary incentives for this purpose, but in practice the �honor� or �prestige� of an award can be a significant motivator as well, unless the award is given so often that its prestige is...
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The article discusses the factors to consider in setting incentive plans for employees. According to Mark Davis, managing principal of the Valitus Group Inc., a human resource department should involve senior executives and functional group leaders in drafting an incentive plan. A company needs...
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This article presents a faculty-designed merit pay plan along with a discussion of some of its perceived values. The merit pay plan discussed here advocates that (1) there is a need among teacher education faculty to have control over the design and implementation of any merit pay process that...
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- It pays to produce. Versel, Neil // Modern Physician;Aug2001, Vol. 5 Issue 11, p20
Focuses on the performance-based compensation system in physician hospital organizations. Opportunities in proper incentive program; Importance of an effective physician productivity; Differences seen by PracticePlus Chief Executive Mike Heck as the physicians have switched to...
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Discusses two studies released in March 2002 which show the first decrease in executive pay in a decade. Conclusions of Pearl Meyer & Partners as well as the 'Wall Street Journal' and consulting firm William Mercer; View that both studies seem to suggest the idea of pay for performance is...
