Discuss the importance of a well-developed compensation


W. Edwards Deming, often referred to as the leading quality guru in the United States, and psychologist Alfie Kohn support the idea that incentive pay is not a motivator for individuals to do a good job. Yet economists argue that incentive compensation does work and as economist George Baker notes in his 1993 article in the Harvard Business Review titled "Rethinking Rewards," "The problem is not that incentives can't work but that they work too well." What does Baker mean? Discuss the importance of a well-developed compensation plan in attracting and retaining good employees and how to keep those plans from "working too well."

Solution Preview :

Prepared by a verified Expert
Business Management: Discuss the importance of a well-developed compensation
Reference No:- TGS01184806

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)