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Essay / Research Paper Abstract
A 6 page paper that presents the scenario of a hypothetical bank with declining revenues. The CEO believes the problem may be the lack of an incentive program for employees. The writer discuses the importance of human capital, briefly explains the beginning levels of Maslow's hierarchy to demonstrate motivation forces, offers data regarding the effects of a good incentive program and presents a recommended incentive program for this bank. Bibliography lists 5 sources.
Page Count:
6 pages (~225 words per page)
File: MM12_PGbnki.rtf
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Unformatted sample text from the term paper:
are a direct result of not offering an incentive program to employees. They have a point. A report from CFO Research Services noted that companies spend an average of 36
percent of their revenues on human capital (CFO Research Services, 2003, p. 3). It is not only the largest single expense in the budget, it is the most important. More
than 90 percent of chief financial officers in this study "believe that human capital is a central factor in their companies ability to achieve the outcomes that drive shareholder value"
(CFO Research Services, 2003, p. 5). How human capital is managed has become prevalent at the board and investor level, almost half of a companys investors want to know about
human resource practices and nearly 25 percent of boards are asking about this (CFO Research Services, 2003). Effective human resource management is one way a company can achieve a competitive
advantage. The banks personnel is a very diverse group at all levels and in all ways, age, education and training, race, ethnicity, gender. Management has always taken a very strong
stance on diversity because they believe diversity is the key to success in a diverse society. Due to the nature of the business, the bank has many employees who
begin at just above the minimum wage. According to Maslows hierarchy, these employees will probably, but not universally, be more motivated by cash incentives. This is why so many
companies use cash incentives (Nelson, 2004).It should not be forgotten, however, that everyone wants to feel like they belong and that they are appreciated. Acknowledgement is important and for that
reason, managers will be given appreciation greeting cards to mail to employees. This type of recognition and appreciation can do more good than anyone can imagine. Imagine a single mother
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