Is your company's revenue greater than its expenses?
Companies can become profitable by turning to their natural resources: employees. Asking employees for suggestions brings forth ideas; however, to really unleash employees' energies for greater productivity, there needs to be a financial reward. The challenge is to combine individualism with co...
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| Veröffentlicht in: | HR Focus 1994, Vol.71 (1), p.4 |
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| creator | Markowich, M. Michael |
| description | Companies can become profitable by turning to their natural resources: employees. Asking employees for suggestions brings forth ideas; however, to really unleash employees' energies for greater productivity, there needs to be a financial reward. The challenge is to combine individualism with cooperation into a unique mixture that is economically stronger than either one alone. The following 7-step Team Incentive Model can help achieve this combination: 1. Get top management's okay. 2. Give employees veto power. 3. Determine negotiable and non-negotiable zones. 4. Work with swing people. 5. Conduct a dry run. 6. Start the program. 7. Determine the impact. A community hospital in the Philadelphia area implemented a team incentive program in the mid-1980s. The hospital improved service, lowered costs, and improved morale through team competition. |
| format | Newsletterarticle |
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| fulltext | fulltext |
| identifier | ISSN: 1059-6038 |
| ispartof | HR Focus, 1994, Vol.71 (1), p.4 |
| issn | 1059-6038 1945-5089 |
| language | eng |
| recordid | cdi_proquest_reports_206780364 |
| source | EBSCOhost Business Source Complete |
| subjects | Analysis Bonuses Cooperation Employee empowerment Employees Executives Guidelines Human resource management Incentives Individualism Labor productivity Management Managers Meetings Monetary incentives Nurses Nursing Participatory management Rewards Task forces Teamwork Work groups |
| title | Is your company's revenue greater than its expenses? |
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