Managing through Incentives: How to Develop a More Collaborative, Productive, and Profitable Organization / Edition 1

Managing through Incentives: How to Develop a More Collaborative, Productive, and Profitable Organization / Edition 1

by Richard B. McKenzie, Dwight R. Lee
     
 

ISBN-10: 0195119010

ISBN-13: 9780195119015

Pub. Date: 09/24/1998

Publisher: Oxford University Press

Incentives are the most powerful tools executives can use to improve worker performance. This is particularly true in today's empowered workplace, where incentives can ensure that workers apply their initiative toward company goals. Now, in this groundbreaking book, Richard McKenzie and Dwight Lee show how to select the right incentives and how to use them for best

Overview

Incentives are the most powerful tools executives can use to improve worker performance. This is particularly true in today's empowered workplace, where incentives can ensure that workers apply their initiative toward company goals. Now, in this groundbreaking book, Richard McKenzie and Dwight Lee show how to select the right incentives and how to use them for best results.
Generously illustrated with examples from business, industry, government, academia, and professional sports, this superb volume offers a comprehensive overview of incentives, both in theory and in practice, providing a wealth of ideas managers can use to get employees to work harder, smarter, and more cooperatively. Much of the book is quite eye-opening. For instance, while McKenzie and Lee recognize that money is the prime motivator, they urge managers not to overlook the power of non-monetary incentives, carefully evaluating such motivators as fringe benefits, psychological incentives, education, and training. And they examine a host of other issues, including how to take advantage of executive "overpayment" to increase profits; the limits of piece-rate and other pay-for-performance schemes; finding the right balance between current pay and a more generous pension plan; the value of tough bosses; and hostile takeovers as a form of managerial incentive.
How workers are rewarded is often more important than how much they are rewarded, say the authors. The job of good managers is getting the incentives right. Managing Through Incentives shows managers how to apply proven motivators to help any size firm energize the work force, increase its profits, and meet the awesome challenges of today's fiercely competitive global economy.

Product Details

ISBN-13:
9780195119015
Publisher:
Oxford University Press
Publication date:
09/24/1998
Edition description:
New Edition
Pages:
352
Product dimensions:
6.30(w) x 9.30(h) x 1.30(d)

Table of Contents

Preface ix
I. Introduction 3(46)
1. Why Incentives Matter
3(19)
2. An Economic Look at Incentives Within Firms
22(27)
II. Worker Incentives 49(110)
3. The Value of Tough Bosses
49(19)
4. The Value of "Teams"
68(16)
5. Paying for Performance
84(19)
6. Paying Above-Market Wages
103(16)
7. Fringes, Incentives, and Profits
119(15)
8. Cutting Health Insurance Costs
134(9)
9. Paying Worker's Education and Relocation Costs
143(16)
III. Executive Incentives 159(52)
10. Executive "Overpayments"
159(16)
11. How Debt and Equity Affect Executive Incentives
175(8)
12. The "Hostile" Takeover as Managerial Incentive
183(14)
13. How Honesty Pays in Business
197(14)
IV. Firm Incentives 211(68)
14. What Firms Should Do
211(13)
15. The Last-Period Problem
224(12)
16. Pricing with Incentives in Mind
236(13)
17. The Value of "Mistreating" Customers
249(11)
18. Profits vs. Corporate Social Responsibility
260(8)
19. Why Professors Have Tenure and Businesspeople Don't
268(11)
V. Final Words 279(20)
20. The Case Against the Case Against Incentives
279(12)
21. Managerial Lessons in Incentives
291(8)
Notes 299(32)
Index 331

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