StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The Effect of Incentive Plans in attaining the Organizational Objectives - Essay Example

Cite this document
Summary
The Organizational objectives are long term plans planned to achieve success in management, employee cooperation and profitable production so as to maintain the level of achievement for a long period of time. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.5% of users find it useful
The Effect of Incentive Plans in attaining the Organizational Objectives
Read Text Preview

Extract of sample "The Effect of Incentive Plans in attaining the Organizational Objectives"

Download file to see previous pages

Basically the organizational objectives are intended by group of people who belong to the organization. The incentive planning is one of the strategies of the organizations. The incentive is a sort of gainsharing, which is promoted with the intension of encouraging the employees so that they extend their cooperation and work. The incentive is nothing but sharing a certain amount of profit to the employees. This is expected to help reaching the organizational objectives. Let us consider a model incentive planning.

The total amount decided to be shared as incentive per year is 1 million dollar. This should be paid as a compensation for the work done by the employee. This might include a group or team that has been considered under the bonus scheme. The over all percentage that has been left to be distributed among the selected group or team would cover some 10% from the total profit. Incentive should be divided according to the responsibilities carried by the employee. The employees who deserve the incentives are managers and middle managers, under whom they control a group of employees.

For example managers of various departments such as accounts, marketing, production, maintenance etc. are required to reach the strategic level, in order to do that they manage the group of workers who work in their concerned department under them. Members of the organization keep these objectives in mind and work accordingly. An incentive planning help the objective keep going in its way uninterrupted by any kind of break in running the organization. The incentive could be defined in other words as proposing a deadline for the concerned employees, expecting them to reach specific or given milestones in the particular area or department.

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Effect of Incentive Plans in attaining the Organizational Essay”, n.d.)
The Effect of Incentive Plans in attaining the Organizational Essay. Retrieved from https://studentshare.org/miscellaneous/1537578-the-effect-of-incentive-plans-in-attaining-the-organizational-objectives
(The Effect of Incentive Plans in Attaining the Organizational Essay)
The Effect of Incentive Plans in Attaining the Organizational Essay. https://studentshare.org/miscellaneous/1537578-the-effect-of-incentive-plans-in-attaining-the-organizational-objectives.
“The Effect of Incentive Plans in Attaining the Organizational Essay”, n.d. https://studentshare.org/miscellaneous/1537578-the-effect-of-incentive-plans-in-attaining-the-organizational-objectives.
  • Cited: 0 times

CHECK THESE SAMPLES OF The Effect of Incentive Plans in attaining the Organizational Objectives

Performance Feedback, Performance Incentives and Rewards, and Employee Evaluation

Heisler further suggested that 360-degree feedback assessment programme should be designed to measure the behaviors and characteristics of the employees with relation to the organizational strategies.... This research is being carried out to evaluate and present three practices of human resources management which have been adopted by different sectors and companies....
22 Pages (5500 words) Essay

Strategic Sales Management

15 Pages (3750 words) Essay

Business - Incentive Plans

Given the organizational objectives the Army aims to achieve, and the large workforce that it requires to achieve those objectives, it is a weakness not being able to attract more talented individuals to its ranks through referrals.... The Army, as an arm of the federal government, is a nonprofit agency that offers compensatory incentives to employees to encourage greater service to meeting organizational objectives.... Although the TSRB program does not affect high-demand skill employees, lower-level Army employees receive a direct benefit and, from a personnel management perspective, it is these areas in the organizational hierarchy that the Army has the most difficult with in terms of employee turnover....
3 Pages (750 words) Term Paper

Impact of Financial and Non-financial Rewards on Employee Motivation and Satisfaction

In the study of 139 Slovenian bank managers, Hartmann and Slapnicar (2012) explored the effect of distributive justice properties and procedural justice properties of managerial pay on manager's intrinsic motivation.... These stages are: 1) establishing objectives; 2) measuring performance; 3) providing performance feedback; and 4) translating performance into rewards.... Ferreira, Marques and Azevedo show from their study of Portuguese banks that incentive systems shape organisational competitiveness, although other factors are also important, such as management and leadership approaches....
20 Pages (5000 words) Literature review

Impact of Rewards on Employee Motivation and Organisational Performance

74 Pages (18500 words) Dissertation

A System of Motivation and Incentives by Federal Express Corporation

The choice of objectives and the formulation of strategic policies for the attainment of organizational goals depend on a variety of factors unique to a The paper “Effectiveness of incentive plans Implemented by Federal Express Corporation for Attainment of Organizational Goals" is a brilliant version of a case study on management.... The effectiveness of the incentive plans implemented by Federal Express Corporation in relation to the attainment of organizational goals would be evaluated in this paper....
3 Pages (750 words) Term Paper

Strategic Sales Management in Procter and Gamble Company

The process of having a good human resource base does not end with recruiting people as it is equally important to have motivated employees who can easily align their personal objectives with the organizational objectives so as to bring about organizational efficiency and generate competitive advantage.... In order to have motivated employees, it is necessary to ensure a proper job fit so as to align the objectives of the employees and the employers.... This emerges as a significant threat as different regions have a different cultural and organizational barrier which renders the immediate need for creating region-specific recruitment plans....
16 Pages (4000 words) Research Paper

How Can an Organizations Reward System Assist Organizational Success

Three main types of incentive plans exist for employees, which include individual-based, team-based, and organization-based pay incentives.... hellip; Where there is a chance of systems becoming more individualistic due to the implementation of rewards and incentive plans, rewards also prove effective for increasing employee performances.... "How Can an Organization's Reward System Assist organizational Success" paper discusses the relationship between rewards and organizational success....
10 Pages (2500 words) Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us