The Use Of Merit Pay And Incentives
The purpose of this paper is to explore
as motivators for increased productivity. The key focus is the system at
Richmond Memorial Hospital. To do so, one must begin at the beginning…..
The use of financial incentives (financial rewards) paid to workers whose
production exceeds some predetermined standard was popularized by Frederick
Taylor in the late 1800s. As a supervisory employee of the Midvale Steel
Company, he had become concerned with what he called "systematic soldiering".
This was the tendency of employees to work at the slowest pace possible and the
fact that some of these same workers still had the energy to run home and work
on their cabins, even after a hard 12-hour ...
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will be eliminated from the
program. Maintaining that average is our motivator. Attaining the certificate
of graduation is our incentive. In psychology, at its most basic, a motivator is
that which impels or compels an individual to act toward meeting a need. On a
physiological level, thirst, hunger and sex are motivators or drives. They are
basic needs which must be met.
Relating this to a hospital environment, it is not base compensation which
drives the employee, but what the base compensation can satisfy in a higher
level of needs. Money can't buy love, but it can buy some security such as
insurance benefits. After basic and security needs are met, compensation is
not the motivator, but what compensation represents is (REFERENCE?).
One statement that must be made before continuing is that needs are varied
and can occur concurrently or over a period of hours or days, etc. And, needs
are mixed. Hunger is a drive: The satisfaction of hunger can take ...
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at the peak levels necessary to bring
about improvement in the bottom line which is what interests most corporations
(REFERENCE?).
With flatter organizations, and in most cases fewer employees, companies
need to motivate their remaining employees to make a value-added contribution,
take ownership, and be held accountable for their work (REFERENCE?).
Historically, employees have been rewarded with increased base pay, promotions,
and titles (REFERENCE?). However, organizations today are finding other means
of motivating employees. Companies are recognizing the need to change their pay
philosophies, from paying for position or title to paying for people. In
accordance with this ...
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The Use Of Merit Pay And Incentives. (2007, March 11). Retrieved November 23, 2024, from http://www.essayworld.com/essays/The-Use-Of-Merit-Pay-Incentives/61614
"The Use Of Merit Pay And Incentives." Essayworld.com. Essayworld.com, 11 Mar. 2007. Web. 23 Nov. 2024. <http://www.essayworld.com/essays/The-Use-Of-Merit-Pay-Incentives/61614>
"The Use Of Merit Pay And Incentives." Essayworld.com. March 11, 2007. Accessed November 23, 2024. http://www.essayworld.com/essays/The-Use-Of-Merit-Pay-Incentives/61614.
"The Use Of Merit Pay And Incentives." Essayworld.com. March 11, 2007. Accessed November 23, 2024. http://www.essayworld.com/essays/The-Use-Of-Merit-Pay-Incentives/61614.
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