Posted: February 1st, 2024

Write a post discussing five of the incentive options available to managers

Consider the many incentive options available to managers. Write a post discussing five of the incentive options available to managers. When writing this, be sure to discuss the concepts of both “owernship” and individual versus group and organization incentive levels. When does it make sense to provide an incentive to an individual, a group, for organizational performance?

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Incentives Options

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Write a post discussing five of the incentive options available to managers.
The five incentive options are remuneration, moral, coercive, intrinsic and extrinsic. According to Chary (2004), remuneration incentives focus on money in form of wages and salaries. Moral incentives uses encouraging words that may be inscribed in medals, trophies and certificates. Coercive incentives focus on using threats and punishment to ensure employees perform to avoid them. Intrinsic incentive applies the concept of promoting personal happiness like giving employees room to be independence to operate. Extrinsic incentive applies the concept of external happiness like offering employees projects they will implement.
When writing this, be sure to discuss the concepts of both “ownership” and individual versus group and organization incentive levels.
Incentives should promote a feeling that the employees own the process by involving them in creation of the incentive plan. Individual incentive is the benefit that goes directly to each employee for working as individuals. Group incentive is a benefit that directly goes to team of employees who are working together. Khanka (2005) stated that organizational benefit are benefits that are shared among all employees of the firm regardless of the department they work.
When does it make sense to provide an incentive to an individual, a group, for organizational performance?
Individual incentive should be offered where there is job delegation (Chary, 2004). The work pay is either flat rate or output based. A flat rate pay occurs where employees perform similar work like practitioner nursing where all have similar qualifications. Output based rate is where the level of performance of each employee determines the amount they will be paid.
According to Khanka (2005), group incentive should be offered where there is work being done by a team. The success and failure of a team is shared equally to all members. The success of performance of a team yields benefits that are sent to whole team. The remuneration is offered to the team as a whole to be shared among the employees rather than focus on level of performance of each individual.
Chary (2004) stated that organizational incentive should be offered where a firm attains the annual goal and in promoting social benefits. Health plans and retirement plans are programs that to be spread across the organization as opposed to some individuals. The attainment of annual goal mean all employees have played a critical role and they need to be appreciated equally.

References
Chary, S. N. (2004). Production and operations management. New Delhi: Tata McGraw-Hill.
Khanka, S. S. (2005). Human resource management: Text and cases. New Delhi: S Chand.
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