Increasingly, organizations are changing the ways in which they compensate and reward their employees. This is true for the relationship between the employer and management. A management incentive plan is a compensation or rewards agreement between an employer and management. The plan is designed to motivate managers and to align management performance with the strategic goals of the firm. This blog post describes the latest innovation in management incentives and discusses the linkages between incentives and individual and firm performance.
Management without goals? Impossible, if you believe the large number of popular science and specialized books about management topics. Goals, target agreements, and bonus systems connected to target achievement are all part of every manager’s toolbox.
There is a growing need among managers to understand issues concerning organisational job satisfaction. It is quite tempting to regard job satisfaction as simply being ‘happy’ at work, but this topic is slightly more complex than we would normally expect. Let us start by defining job satisfaction and look into what it involves. One of the most common definitions for job satisfaction came out in 1976 from an American psychologist named Edwin Locke. As he put, it is simply “a pleasurable or positive emotional state resulting from the appraisal of one’s job or job experiences”. In other words, workers draw on their perceptions and emotions to evaluate jobs in some degree of favour or disfavour.
Leaders within organizations are tasked with taking time to know what burnout is, how to identify it, how to prevent it, and how to address it if it spotted. It may seem like that is a personal matter for the employee to tend to, however, there is evidence to the contrary. Organizations are, at the core, made up of people. Not taking care of them is like neglecting any process or element of the business. If you don’t address this problem which may be lurking in your workplace, it could cost the company capital, both human and financial.
We’ve all had positive moments in our lives that you just won’t forget. It doesn’t matter if those moments were part of personal life or professional life, occurred during studies or other forms of education: Situations that are associated with fun, inspiration, hope, interest, admiration, and pride are etched into our memory and can be recalled in great detail and with great emotional depth many years later. This is in strong contrast to a large number of lectures, meetings, trainings, etc. whose content we are only able to memorize after multiple repetitions and great effort, for a short period at most.