Wasting money on rewards and incentives is a fact for many organizations. If you have ever received a gift that you did not want you already know the answer to the question. Some corporation I are very good at presenting high performers with plaques. Some people line their office walls with them. They are proud to receive the accolades and symbols of appreciation.
While others feel disappoint and slighted. They would have felt excited if instead of a plaque they were given an opportunity to work a special project of interest, advanced training or expanded vacation time. Blindly presenting rewards and recognition to staff can damage individual initiative , create disappointment or even resentment on the receiver’s part. Linking valued incentives and rewards with and waste money spent on rewards due to a lack of understanding of motivational psychology and limited reward choices.
Pay for Performance Increases Management Skills.
How do you know if your managers are creating value or destroying it?
Some managers are technically competent but their management abilities leave much to be desired. Since management affects the motivation and development of many staff and customers the actual impact of poor management is staggering. Our performance based appraisal system hard wires measurable management accountabilities into each manager’s appraisal. The result, management excellence becomes a priority. Pay and benefits reflect the full impact managers have on long term competitiveness. (See Performance Dashboards for more details).
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