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

The Use of Merit Pay and IncentivesThe purpose of this paper is to look for the exercising of Merit Pay and Incentivesas motivators for increased productiveness. The key concentrate is the system atRichmond Memorial Hospital. To do so, one moldiness begin at the beginning..The example of financial motivators (financial rewards) stipendiary to workers whose employment exceeds whatsoever 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 one thousand possible and thefact that or so of these same workers still had the energy to thaw home and workon their cabins, even after a sullen 12-hour day. Taylor knew that if he couldfind some way to harness this energy during the workday, considerable productivity gainswould be achieved (REFERENCE?). Thus was born the conc ept 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 distract 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 start is our incentive. In psychology, at its most basic, a motivator isthat which impels or compels an separate to act toward meeting a need. On aphysiological level, thirst, thirstiness and sex are motivators or drives. They arebasic needfully which essential 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 ask. Money cant buy love, simply it can buy some protective c everyplaceing such a sinsurance benefits. After basic and surety needs are met, compensation isnot the motivator, but what compensation wagers is (REFERENCE?). unitary statement that essential be made before continuing is that needs are variedand can occur concurrently or over a period of hours or days, etc. And, needsare mixed. crave is a drive The satisfaction of thirstiness can take some(prenominal)forms 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 causeance (REFERENCE?). Another facesetters case ofpay system is Pro-Pay where employees can receive lump sum chastity bonuses oncethey reach the top of their pay range and is only paying(a) for above average bring aboutance (REFERENCE?). Star/Superstar programs are where employees who equal 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 purpose 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 some(prenominal)methods 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 benevolent Resources in thedevelopment of The Use Of Merit Pay And Incentives Essay -- essays look for 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 reduce 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 toil 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 mistreat possible and thefact that some of these same workers still had the energy to devolve home and workon their cabins, even after a exhausting 12-hour day. Taylor knew that if he couldfind some way to harness this energy during the workday, abundant 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 at least the pain 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 outset 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(a) statement that must be made before continuing is that needs are variedand can occur concurrently or over a period of hour s or days, etc. And, needsare mixed. starve 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 sexual morality 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. 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 determination that turning to incentiveprograms is a good way to boost productivity and improve morale (REFERENCE-NEED PAGE NUMBER FOR DIRECT QUOTE)..     A properly structure d incentive-driven system (IDS) provides severalmethods and levels of compensation. All IDS systems must be tailored to eachorganization. What works 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 charitable Resources in thedevelopment of