Performance Incentives

Compare and contrast when it would be preferable to motivate employee performance through short-term incentives versus long-term incentives, and vice-versa. Use at least two sources, in addition to the course text in your references.

Please use text.

TEXT BOOK

Weathington, B. L. & Weathington, J. G. (2016). Compensation and benefits: Aligning rewards with strategy [Electronic version].

Solution Preview

The main aim of every organization is to have a motivated team of employees who are ready to conduct their daily activities for the progress and development of the company. It is however not easy to achieve this and a business has to strategize on adopting methods of achieving greatness in the workforce. Employee compensation is therefore encouraged to ensure that the parties involved feel appreciated and wanted in all activities they do and hence can work much harder. The kind of appreciation differs depending on whether it is a short or long-term activity as well as its focus. An organization should, therefore, be able to identify when to give a short term or long term reward to the employee and how it affects performance.

(642 words)