Vanessa Sumo, Hal Weitzman, Michael Gibbs
Subjective evaluation by supervisors can address the shortcomings of numeric measures. When numeric measures focus employees on one goal, a second, subjective bonus can make employees pay more attention to other objectives that may be difficult to quantify, like managing controllable risks. If a plant manager’s bonus depends on profits alone, he might postpone maintaining equipment. A supervisor can motivate the plant manager to consider … [ Read more ]
Content: Quotation | Authors: Hal Weitzman, Michael Gibbs, Vanessa Sumo | Source: Capital Ideas | Subjects: Human Resources, Management, Organizational Behavior
Four Ways to Improve Your Pay-for-Performance Plan
For all the talk about creating better incentive plans for employees, many proposed ideas are still off the mark. One reason is that managers tend to ignore insights from academic research, while academics do not always focus on practical applications. Chicago Booth Clinical Professor Michael J. Gibbs offers insights that bridge academic and practical perspectives.
Content: Article | Authors: Michael Gibbs, Vanessa Sumo | Source: Capital Ideas | Subjects: Human Resources, Management, Organizational Behavior