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Employees Incentive System - Essay Example
Author : qlind
Pages 14 (3514 words)
With the advent of globalization, there is an ever increasing pressure on business organizations to be more competitive, productive, and efficient more than ever. Such pressure is more evident in the way business organizations are managing and utilizing their employees since the challenges faced by companies are also shared by the employees (Schraeder and Becton, n.d.)…
"These collective risks are being operationalized in incentive programs that often impact as much as 30% of a manager's income" (Tully, 1995; Schraeder and Becton, n.d.).
As the threat of global trade liberalization looms, "competitive pressures" on business organizations will continue to expand. Therefore, business organizations must take the necessary steps in order to become more "innovative, productive, and efficient". [In order to remain more competitive], business organizations have to make use of all its "resources" in order to maximize the usefulness of its "operations" (Scharaeder and Becton, n.d.). And labor, being the most essential part of expenditure of the business, must be utilized to the fullest by developing and adopting "compensation strategies such as incentive programs [in order to] align individual motivation and goals with the objectives of the organization (Scharaeder and Becton, n.d.). This caused the organizations to "continually faced" with problems of maintaining and energizing excellent employees and "elevating additional business units into the upper echelon of excellent performance". ...