عنوان انگلیسی مقاله:

What monetary rewards can and cannot do:How to show employees the money

ترجمه عنوان مقاله: کارکردهای مثبت و منفی پاداش های مالی چیست: چگونه به کارکنان پاداش مالی بدهیم

رشته: مدیریت مالی و حسابداری

سال انتشار: 2013

تعداد صفحات مقاله انگلیسی: 24 صفحه

منبع: الزویرو ساینس دایرکت

نوع فایل: pdf

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چکیده مقاله

Monetary rewards can be a very powerful determinant of employee motivation and performance which, in turn, can lead to important returns in terms of firm-level performance. However, monetary rewards do not always lead to these desirable outcomes. We discuss in this installation of Human Performance what monetary rewards can and cannot do, and reasons why, in terms of improving employee performance. Also, we offer research-based recommendations including the following five general principles to guide the design of successful monetary reward systems: (1) define and measure performance accurately, (2) make rewards contingent on performance, (3) reward employees in a timely manner, (4) maintain justice in the reward system, and (5) use monetary and nonmonetary rewards. In addition, we offer specific research-based guidelines for implementing each of the five principles. In short, our article summarizes research-based findings and offers recommendations  that will allow managers and other organizational decision makers to understand when and why monetary reward systems are likely to be successful in terms of enhancing employee motivation and performance.

Keywords: Motivation; Compensation; Human resource management; Individual performance; Employee retention

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