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Essay / Research Paper Abstract
This 3 page paper begins by reporting the results of a survey of businesses to discover how they rewarded their employees for high performance. The writer then comments on the old Yuletide turkey gift and the fact that this 'bonus' just doesn't work any longer. Examples from two companies are used to demonstrate the types of performance-based rewards that are being used today. Statistical data included. Bibliography lists 5 sources.
Page Count:
3 pages (~225 words per page)
File: MM12_PGemprd.rtf
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Unformatted sample text from the term paper:
kinds. Joyce (2004) reported that the "right incentive programs can boost performance among teams of employees by as much as 44%, and among individual workers by as much as 25%"
(2004). The research study reported the proportion of companies surveyed using each of the following: * Recognition awards = 29.5% (Joyce, 2004). * Bonus = 26% (Joyce, 2004). *
Promotion = 14.3% (Joyce, 2004). * Commission = 10.5% (Joyce, 2004). * Merchandise = 9.4% (Joyce, 2004). * Travel = 4.9% (Joyce, 2004). * Other = 4.3% (Joyce, 2004). Remember
the old turkey bonus employees gave at holiday time? Turkeys just dont do it any longer. Bowen (2004) reported the case of a small business manager who decided to give
each employee a turkey for the holidays as a thank you for you hard work bonus. The first year, the employees were both surprised and appreciative (Bowen, 2004). Since that
worked so well, the manager did it again the next year but employees were not as thrilled because the turkeys were not larger than last years (Bowen, 2004). And, by
the third year, "turkeys had become a morale problem" (Bowen, 2004, p. 101). The manager replaced the turkeys with a bonus but as so often happens, the cash bonus became
expected and an expected payment (Bowen, 2004). The turkey and then, the bonus shortly had no effect on performance (Bowen, 2004). This small business manager is not the only one
who has had problems with giving an automatic bonus to employees at the holiday time. In November 2004, Hewitt Associates reported "that 63 percent of the nations employers will not
give out gratuitous yuletide bonuses. Instead, many will give performance rewards, also known as variable pay programs, which must be earned" (Lewis, 2004, p. 47). The performance-based reward has become
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