What is your opinion on performance pay? Have you experienced it?
I find it curious how industry compensation is arbitrarily designated to promote performance. The spotlight is often on the teaching profession, yet bonuses to Wall Street financiers are considered bonuses on their production. What is the distinction?
Interestingly, money is not a motivator for everyone. Also, depending on how performance pay is handled,
it can open the perennial can of worms as to the criteria used and if all employees are able to participate.
Worst of all, the perception of a bribe must be avoided at all costs. (More on bribe v. reward in another post.)
Here is top issues that motivate employees today:
• Job security
• Bonuses attached to a specific “well done” project.
• Educational reimbursement
• Promotional and career paths.
What do you think? Please mention your industry segment. Thank you.