The Use Of Merit Pay And Incentives Essay -- essays research papers

The practice of Merit brook and IncentivesThe purpose of this paper is to explore the phthisis of Merit Pay and Incentivesas motivators for increased productivity. The key focus is the brass atcapital of Virginia Memorial Hospital. To do so, star essential begin at the beginning..The use of financial bonuss (financial rewards) paid to workers whoseproduction exceeds some predetermined standard was popularized by FrederickTaylor in the late 1800s. As a supervisory employee of the Midvale SteelComp some(prenominal), he had vex concerned with what he called "systematic soldiering".This was the tendency of employees to work at the slowest pace possible and thefact that some of these same workers still had the expertness to run home and workon their cabins, even after a hard 12-hour day. Taylor knew that if he couldfind some charge to harness this energy during the workday, coarse productivity gainswould be achieved (REFERENCE?). Thus was born the concept of motivation al andincentive systems.What is "motivation?" The root word is "move" which would mean that anyonewho is moved to do something is motivated. Therefore, sitting on a tack, or atleast the pain associated with it is a motivator. For those of us in GraduateSchool, we are aware that without a "B" modal(a) we will be eliminated from theprogram. Maintaining that average is our motivator. Attaining the certificateof graduation is our incentive. In psychology, at its most basic, a motivator isthat which impels or compels an individual to act toward meeting a need. On aphysiological level, thirst, hunger and sex are motivators or drives. They arebasic needs which must be met.Relating this to a hospital environment, it is non base salary whichdrives the employee, but what the base compensation nookie avenge in a higherlevel of needs. Money cant buy love, but it can buy some security such asinsurance benefits. afterwards basic and security needs are met, compensat ion isnot the motivator, but what compensation represents is (REFERENCE?).One statement that must be made before continuing is that needs are variedand can occur concurrently or everyplace a period of hours or days, etc. And, needsare mixed. lust is a drive The satisfaction of hunger can take severalforms and, usually, when one is hungry one also is a little thirsty. Then, ifthe book, Tom Jones (AUTHOR, YEAR), was any indica... ...endations based on sustained carrying out (REFERENCE?). Another type ofpay system is Pro-Pay where employees can receive lump sum merit bonuses oncethey gather the top of their pay range and is only paid for above averageperformance (REFERENCE?). Star/Superstar programs are where employees whorepresent the top ten pct of performers receive lump sum bonuses. Alongwith a Pay for Performance system, in that location must also be in place a incentivesystem. (Grossman, YEAR?). Pay perform & prod (next lines) (INCOMPLETESENTENCE) "Many US telephon e circuit owners are finding that turning to incentiveprograms is a good way to boost productivity and improve morale (REFERENCE-NEED PAGE NUMBER FOR direct QUOTE)..     A properly structured incentive-driven system (IDS) provides severalmethods and levels of compensation. All IDS systems must be tailored to eachorganization. What works in a hospital whitethorn not work in academia (Dressler,YEAR?). It is usually a mistake to implement an incentive plan without inputfrom employees. Management should use a program design team composed ofemployees and supervisors. They could work with Human Resources in thedevelopment of The Use Of Merit Pay And Incentives Essay -- essays research papers The Use of Merit Pay and IncentivesThe purpose of this paper is to explore the use of Merit Pay and Incentivesas motivators for increased productivity. The key focus is the system atRichmond Memorial Hospital. To do so, one must begin at the beginning..The use of financial incentives (financial rewards) paid to workers whoseproduction exceeds some predetermined standard was popularized by FrederickTaylor in the late 1800s. As a supervisory employee of the Midvale SteelCompany, he had become concerned with what he called "systematic soldiering".This was the tendency of employees to work at the slowest pace possible and thefact that some of these same workers still had the energy to run home and workon their cabins, even after a hard 12-hour day. Taylor knew that if he couldfind some way to harness this energy during the workday, huge productivity gainswould be achieved (REFERENCE?). Thus was born the concept of motivational andincentive systems.What is "motivation?" The root word is "move" which would mean that anyonewho is moved to do something is motivated. Therefore, sitting on a tack, or atleast the pain associated with it is a motivator. For those of us in GraduateSchool, we are aware that without a "B" av erage we will be eliminated from theprogram. Maintaining that average is our motivator. Attaining the certificateof graduation is our incentive. In psychology, at its most basic, a motivator isthat which impels or compels an individual to act toward meeting a need. On aphysiological level, thirst, hunger and sex are motivators or drives. They arebasic needs which must be met.Relating this to a hospital environment, it is not base compensation whichdrives the employee, but what the base compensation can satisfy in a higherlevel of needs. Money cant buy love, but it can buy some security such asinsurance benefits. After basic and security needs are met, compensation isnot the motivator, but what compensation represents is (REFERENCE?).One statement that must be made before continuing is that needs are variedand can occur concurrently or over a period of hours or days, etc. And, needsare mixed. Hunger is a drive The satisfaction of hunger can take severalforms and, usually, when one is hungry one also is a little thirsty. Then, ifthe book, Tom Jones (AUTHOR, YEAR), was any indica... ...endations based on sustained performance (REFERENCE?). Another type ofpay system is Pro-Pay where employees can receive lump sum merit bonuses oncethey reach the top of their pay range and is only paid for above averageperformance (REFERENCE?). Star/Superstar programs are where employees whorepresent the top ten percent of performers receive lump sum bonuses. Alongwith a Pay for Performance system, there must also be in place a incentivesystem. (Grossman, YEAR?). Pay perform & prod (next lines) (INCOMPLETESENTENCE) "Many US business owners are finding that turning to incentiveprograms is a good way to boost productivity and improve morale (REFERENCE-NEED PAGE NUMBER FOR DIRECT QUOTE)..     A properly structured incentive-driven system (IDS) provides severalmethods and levels of compensation. All IDS systems must be tailored to eachorganization. What work s in a hospital may not work in academia (Dressler,YEAR?). It is usually a mistake to implement an incentive plan without inputfrom employees. Management should use a program design team composed ofemployees and supervisors. They could work with Human Resources in thedevelopment of