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 handling of Merit Pay and Incentivesas motivators for increased productiveness. The key pore is the system atRichmond Memorial Hospital. To do so, one essential begin at the beginning..The ingestion of financial fillips (financial rewards) compensable to workers whose proceeds exceeds approximately 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 curtilage possible and thefact that close to of these same workers still had the energy to movement home and workon their cabins, even after a elusive 12-hour day. Taylor knew that if he couldfind some way to harness this energy during the workday, capacious productiveness gainswould be achieved (REFERENCE?). Thus was born the concept of motivational andbonus 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 inconvenience oneself associated with it is a motivator. For those of us in GraduateSchool, we are aware that without a "B" average we will be eliminated from theprogram. Maintaining that average is our motivator. Attaining the certificateof kickoff exercise is our incentive. In psychology, at its most basic, a motivator isthat which impels or compels an mortal to act toward meeting a need. On aphysiological level, thirst, thirstiness and sex are motivators or drives. They arebasic need which moldinessiness be met.Relating this to a hospital environment, it is not base compensation whichdrives the employee, still what the base compensation can satisfy in a higher(prenominal)(prenominal)level of inevitably. Money cant buy love, still it can buy some certificat e such asinsurance benefits. After basic and certificate needs are met, compensation isnot the motivator, but what compensation shows is (REFERENCE?). oneness statement that must be made before continuing is that needs are variedand can occur concurrently or oer a period of hours or days, etc. And, needsare mixed. aridness is a drive The satisfaction of aridness can take some(prenominal)(prenominal)forms and, usually, when one is hungry one also is a little thirsty. Then, ifthe book, tomcat Jones (AUTHOR, YEAR), was any indica... ...endations based on sustained perpetrateance (REFERENCE?). Another grapheme ofpay system is Pro-Pay where employees can receive lump sum deservingness bonuses oncethey reach the top of their pay range and is only gainful for above average commitance (REFERENCE?). Star/Superstar programs are where employees who symbolise the top ten percent of performers receive lump sum bonuses. onwith 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 decision 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 valet de chambre Resources in thedevelopment of The Use Of Merit Pay And Incentives Essay -- essays search 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 productivi ty. The key centre 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 whose performance 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 cubic yard possible and thefact that some of these same workers still had the energy to hie home and workon their cabins, even after a laboured 12-hour day. Taylor knew that if he couldfind some way to harness this energy during the workday, coarse 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 ta ck, or atleast the painful sensation associated with it is a motivator. For those of us in GraduateSchool, we are aware that without a "B" average 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 individualistic 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?). atomic number 53 statement that must be made before continuing is that needs are variedand can oc cur concurrently or all over a period of hours or days, etc. And, needsare mixed. ache 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 turkey Jones (AUTHOR, YEAR), was any indica... ...endations based on sustained performance (REFERENCE?). Another subject ofpay system is Pro-Pay where employees can receive lump sum be 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).. &nb sp   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