21036 Lecture Notes - Lecture 8: Transactional Leadership, Reward System, Job Satisfaction
Document Summary
Overview: week 8 - performance related rewards: what is performance-related reward (prr), motives for introducing prr, arguments against prr, approaches that link reward to performance, individual performance-related pay (iprp, conclusion. Critical questions on performance related reward: what is being measured (behaviours, results or both), whose performance is being measured (individuals, groups or whole. Looks at the issue of measures and the importance of getting them right. Innovative thinking and risk taking (rewarding proven methods and not making mistakes) Development of people skills (rewarding technical achievements and accomplishments) Commitment to quality (rewarding shipping on schedule, even with defects) Candor; surfacing bad news early (rewarding reporting good news, whether it"s true or not; agreeing with the boss, whether or not (s)he"s right) Employee involvement and empowerment (rewarding tight control over operations and resources) Individual performance-related pay (iprp) most common (finance industry) individual performance usually linked to appraisal/review ((cid:494)appraisal(cid:495) or (cid:494)merit(cid:495) based pay(cid:495)(cid:524).
