Impact of Performance - Related Bonus on Motivation and Productivity

As the world of work becomes more complex and competitive with the current turbulent business environment with focus shifting more to intangible assets, companies and organisations are exploring various strategies to survive and remain competitive. Crucially, in a labour intensive industry like hotel business, employees motivation to go an extra mile in their performance becomes critical in achieving high quality service delivery. Some companies have introduced a Performance Related Bonus scheme as a strategy to incentivize their staff to work harder with the hope that this will have a positive impact on productivity. As employee motivation is a complex subject, no single model can be ideal. Based on a practical company experience in a developing country, Malawi, this book provides useful and valuable insights into this thorny area of whether performance - linked bonus or monetary rewards can have a positive impact on employee motivation and resultantly improve productivity.Challenges associated with the introduction and implementation of the Performance-Related Bonus policy have also been explored.

Autorentext

Edward Chikoti Chunga, born in 1969 in Nkhotakota District, Central Malawi.Graduated in 1994 with a Bachelor's Degree in Business Administration, he also holds a Msc Degree in Strategic Management obtained in 2010 from University of Derby of the UK.He is currently working for Sunbird Hotels and Resorts as Head of Human Resources and Training.