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PubMed1987

Incentive pay plans boost managers' performance.

Incentive compensation, which has become commonplace in highly competitive industries, is gradually being introduced in health care settings. Although it has not been used extensively in not-for-profit hospitals, its advantages make it a natural tool for administrators who want to retain their best managers and to achieve important special objectives. Management incentives--awards based on the accomplishment of special objectives--enable boards of trustees and senior managers not only to meet difficult hospital objectives but also to attract and motivate key managers and to promote participative management and teamwork. An effective management incentive compensation program requires five support systems: strategic and operating plans; annual objectives for each manager derived from the strategic and operating plans; measureable performance standards; management action plans, which incorporate the objectives and performance standards and are used in directing each manager's efforts; and a performance evaluation system that forces tough yet reasonable evaluations. In addition to these systems, senior managers must exhibit commitment to change, and objectives must go beyond simply managing individual units well, targeting such goals as improvement of outpatient care utilization, recruitment of specialized staff physicians, and the creation of preferred provider and health maintenance organizations.

Employee Incentive Plans↗
PubMedDate not supplied

Pay for performance: what trustees should be applauding.

The responsibilities of the board's compensation committee go beyond just determining annual pay. The committee must develop a plan that outlines organizational goals and identifies the CEO's accountabilities. Then trustees can fulfill their fiduciary and stewardship roles by providing continuous feedback to their CEO.

Chief Executive Officers, Hospital↗
PubMedDate not supplied

New thinking on how to link executive pay with performance.

As the stock market began its ascent in the mid-1990s, executive pay--always the subject of heated debate--mounted along with it. That's because among the largest U.S. companies, stock options now account for more than half of total CEO compensation and about 30% of senior operating managers' pay. One problem became particularly clear during the bull market's astonishing run: even below-average performers reap huge gains from stock options when the market is rising rapidly. The author proposes steps to close the gap between existing compensation practices and those needed to promote higher levels of achievement at all levels of the corporation. For top managers, he recommends replacing conventional stock options with options that are tied to a market or peer index. Below-average performers would not be rewarded under such plans; superior performers could, depending on the way plans were structured, receive even more. He notes that managers at the business unit level should not be judged on the company's stock price--over which they have little control--and advocates an approach that accurately measures the value added by each unit. Finally, he suggests how certain indicators of value can be used to measure the contribution of frontline managers and employees. The concept of pay for performance has gained wide acceptance, but the link between incentive pay and superior performance is still too weak. Reforms must be adopted at all levels of the organization. Shareholders will applaud changes in pay schemes that motivate companies to deliver more value.

Administrative Personnel↗
PubMed2003

[Management of human resources in neurology].

Neurology human resources comprise of the persons who make up the staff. Management tries to make the team both effective and efficient; consequently clear and quantifiable objectives together with resources according to real care needs, teaching, research and management are required. To calculate human resources, the suitability parameters recommended by scientific organisations must be used. To cover global care, 3.7 neurologists are needed for every 100,000 inhabitants. Management is the planning and selecting of staff and their incorporation into the dynamic of the team. It is also work performance training, job evaluation and the offering of opportunities to correct and improve. Personal competence is not a sufficient guarantee to ensure adequate performance. Motivation, team member encouragement to favour promotion, and support for professional career development are needed. Management is fomenting team work and stimulating staff participation in management organs, committees and hospital commissions.

Efficiency, Organizational↗
PubMed2002

Influence of prior involvement on employees' ratings.

Surveys show that the majority of firms provide merit pay to outstanding employees. Despite the widespread use of merit pay programs, there is no consensus as to their effectiveness. While some plans have been successful in motivating employees to achieve higher performance, others have caused employees' dissatisfaction and discouragement. One previously unexplored area in the implementation of merit pay systems is the effect of the decision-maker's prior involvement with the employee on the decision to grant merit. The purpose of this paper was to examine whether hiring an employee leads to larger merit allocations despite evidence that the standards for merit were not met. 101 accounting students participated to assess the influence of hiring on subsequent merit allocations. Analysis indicated that prior involvement does bias ensuing merit decisions.

Adult↗
PubMed2003

The impact of a program for systematically recognizing and rewarding academic performance.

PURPOSE: To describe an academic performance incentive system (APIS) and faculty perception of it; explore the impacts of incentive level, faculty rank, clinical practice volume, and administrative responsibility on academic productivity; and describe the APIS's use in maintaining congruence between department mission and activities. METHOD: A list of teaching, research, and academic service activities was developed, which full-time faculty (n = 33) used to report activities. Clinical faculty members received incentive income based on credits earned. APIS initially distributed 1% of practice plan receipts (subsequently increased to 3% and then 5%). Productivity was measured by differences in APIS points achieved. Satisfaction of all faculty participants was measured by survey. RESULTS: Faculty members (n = 20) who participated throughout averaged 22 credits per month (nine to 42 credits), and quarterly incentive bonuses ranged from 145 US dollars to 6,128 US dollars. Average credits earned per month were 24 for the 1% incentive, 23 for the 3% incentive, and 20 for the 5% incentive. Faculty members with administrative responsibilities were as productive academically as were their non-administrative counterparts. Senior faculty members were as productive as junior faculty. Faculty members who were more productive clinically were more productive academically. Seventy percent of respondents reported they were either very satisfied or somewhat satisfied with the APIS. Seventy-eight percent felt that the APIS accurately reflected their academic productivity. Most respondents (81%) felt that the amount of money allocated to the incentive system was appropriate (15% felt it should be increased and one respondent recommended reduction). CONCLUSIONS: The APIS system has been well accepted by faculty and allows for data-driven discussion of the department's mission and activities.

Efficiency↗
PubMed1985

Preference of hospital employees for work-related outcomes.

A list of five possible work-related outcomes was compiled and included in a questionnaire. This was administered to 490 employees, categorized into seven occupational groups, in three different hospitals in Manila, The Philippines. Responses were compared among work outcomes, identical occupational groups and three hospitals; the most valued outcome was established for all respondents. Findings indicate that variables apt to motivate employees depend on the occupational group to which they belong, the kind of work they perform and the type of hospital in which they work. These findings have implications for the ability of hospital administrators to motivate their employees to perform in a manner that meets expected standards.

Career Mobility↗
PubMed1989

Pay for performance. Implementing a financial incentive for excellent work.

Based upon my own experience with the system, both staff and supervisors believe that the advantage of pay for performance outweigh the disadvantages. I frequently encountered issues such as how to get a higher rating, what is the incentive to identify a difficult objective if one can pick an easier objective and still receive a higher rating, and where do individuals fall in the ratings compared to peers. In response to achieving a higher rating, the supervisors reviewed the rating system and developed objectives that would receive higher ratings. The supervisors and administrators put emphasis on improved performance, rather than on points. To convince employees to choose more difficult objectives, we explained that objectives should reflect the skills and goals of each employee. The objective serves as an indicator of how well the employee achieved a goal. In dealing with the ranking problem, we told the staff where they ranked in relation to others (eg, top, middle, bottom), but emphasized that the evaluation is confidential and that the results are not to be shared. In conclusion, pay for performance offers a supervisor a detailed objective format for reviewing an employee's performance. For the employees, it provides a means in which their performance review is based on individual achievement of self-selected objectives. Employees are measured against their own standards rather than being compared with others performing the same job.

Clinical Competence↗
PubMed2002

One size fits all.

Explore the source record for details and available documents.

Employee Incentive Plans↗
PubMed1990

Keeping your staff. Part 2. Performance related pay in practice.

Staff are one of the greatest assets a practice has, and effective communication and motivation is rewarding for all parties. Three years ago Charles Scola and his partners introduced a performance related pay (PRP) scheme into their busy general dental practice. Here, he discusses the resulting benefits and also some of the teething problems they have encountered.

Dental Staff↗
PubMedDate not supplied

Productivity, efficiency, & effectiveness in the management of healthcare technology: an incentive pay proposal.

Modern healthcare managers are looking for better ways to motivate their employees as well as document and evaluate employee performance. The term productivity is familiar to most healthcare managers. The term efficiency is less familiar. These terms are defined and their significance for use as unique and valuable indicators of effective employee performance is discussed. Similar criteria were applied to make a general comparison between biomedical technician performance in two different hospitals in Tegucigalpa, Honduras, in Central America. A performance-based incentive program using an Incentive Pay Index chart is proposed as a tool through which hospital or company managers can provide technicians or technologists with ongoing motivation to improve both their productivity and efficiency on the job.

Biomedical Engineering↗
PubMed1999

Recognition of staff nurse job performance and achievements: staff and manager perceptions.

Recognition for job performance is central to staff nurse morale. However, little research has been done to identify recognition methods most valued by nurses themselves. The authors report results of a multisite survey conducted to compare staff and manager perceptions of meaningful recognition behaviors. They provide data for developing management interventions that may help to improve morale and increase retention. Given the financial constraints of the current environment, the nonmonetary recognition practices identified are of particular significance.

Achievement↗
PubMed1995

Utilizing reward systems to mobilize change.

The pressures for change in health care organizations mean that people need to do things differently. Reward systems offer an opportunity to share in the success of the enterprise if they are designed and managed effectively. This article shows how and why they work. Case studies illustrate the key principles in action.

Attitude of Health Personnel↗