Impact Of Incentives And Delegation On Employee Motivation
Impact of incentives and delegation on employee motivation:
Delegation as an alternative motivation measure in unlocking employee´s potential
TABLE OF CONTENTS
CHAPTER 1 – Introduction................................................................................
CHAPTER 2 – Motivation in the working environment.....................................
CHAPTER 3 – Incentives and reward systems...................................................
CHAPTER 4 – Delegation..................................................................................
CHAPTER 5 – Impacts of financial incentives on motivation...........................
CHAPTER 6 – Impacts of delegation on motivation........................................
CHAPTER 7 – Conclusion................................................................................
Chapter 1
Introduction
Surviving in the economy is evermore highly dependent on the ability to cope with the competition and delivering optimal results. Therefore, well qualified, educated and motivated employees are indispensable to companies. Especially, top-qualified employees, so called high potentials, are increasingly sought after. In finding the best people available, many companies compete in a “war for talents” to obtain them and, once they are employed, do their best to motivate their staff.
High salaries, incentives and reward systems are possibilities to attract talents and incite them to be productive. Incentives and reward systems are known and used as motivational tools for a long time. They base on the assumption that the employee will adduce the best and most results with the knowledge of getting paid performance-related for his efforts.
But attention should be paid to tremendously, economically damaging occurrences in connection with incentives in the past. The Financial Crisis is one example, where large bonuses played a decisive role and not always in a positive way. Another example is Enron´s insolvency. By paying high bonuses,
Delegation as an alternative motivation measure in unlocking employee´s potential
TABLE OF CONTENTS
CHAPTER 1 – Introduction................................................................................
CHAPTER 2 – Motivation in the working environment.....................................
CHAPTER 3 – Incentives and reward systems...................................................
CHAPTER 4 – Delegation..................................................................................
CHAPTER 5 – Impacts of financial incentives on motivation...........................
CHAPTER 6 – Impacts of delegation on motivation........................................
CHAPTER 7 – Conclusion................................................................................
Chapter 1
Introduction
Surviving in the economy is evermore highly dependent on the ability to cope with the competition and delivering optimal results. Therefore, well qualified, educated and motivated employees are indispensable to companies. Especially, top-qualified employees, so called high potentials, are increasingly sought after. In finding the best people available, many companies compete in a “war for talents” to obtain them and, once they are employed, do their best to motivate their staff.
High salaries, incentives and reward systems are possibilities to attract talents and incite them to be productive. Incentives and reward systems are known and used as motivational tools for a long time. They base on the assumption that the employee will adduce the best and most results with the knowledge of getting paid performance-related for his efforts.
But attention should be paid to tremendously, economically damaging occurrences in connection with incentives in the past. The Financial Crisis is one example, where large bonuses played a decisive role and not always in a positive way. Another example is Enron´s insolvency. By paying high bonuses,