• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>The International Journal of Productivity and performance management >Financial incentives - a potent weapon for higher productivity
【24h】

Financial incentives - a potent weapon for higher productivity

机译：财政激励措施-提高生产力的有力武器

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Purpose - This paper, in fact is the saga of turnaround of an ailing PSU plant, which in spite of all kinds of improvements measures taken up by the Company had never seen productivity beyond 65 percent of installed capacity. The purpose of this paper is also to showcase the amazing power of financial incentives in enhancing productivity, if rightly designed. On the other hand, it will also serve a lesson of caution to the users by highlighting the extent of damages what a faulty incentive plan can cause. Design/methodology/approach - The methodology of Lean Six Sigma helped analyzing and improving the problem and tools like "Fishbone diagram" and "Analytical Hierarchy process" were very handy in identifying root causes for this complex problem and prioritization of those, respectively. Findings - Root cause of low productivity being identified as "demotivated workforce on account of poor incentive earnings", the existing financial incentive plans were given a relook. LSS tools like SIPOC, "heijunka", "brainstorming" etc. were applied for revealing critical faults in the existing financial incentive schemes. Some unorthodox and very common methods were adopted in modifications and implementation of incentive plans. Research limitations/implications - Modification of incentive scheme involving labor union bargain is commonly resisted by both the parties, i.e. labor unions as well as the management. Although their interest behind the same remains different. One fears to loose, while other is afraid of conceding more. This case study was not an exception too. Practical implications - Expecting resistances, a good and thorough Shadow working with all kinds of "extremities tests" were prepared. This along with complete transparency followed by well explanations made both the parties happy. Accordingly, the modified incentive plans were agreed upon and subsequently were approved by the management for implementation. Few other remedies and countermeasures suggested were also implemented. Social implications - The entire workforce was extremely happy and highly motivated. Provisions of equal incentive weightage with ample individual scope of earnings for both rival production groups in the modified incentive scheme successfully converted the inter-group hatred into healthy completion. Both the groups were gearing for much higher performance and earn more. Self-motivations were turned into group motivation, which is always a blessings for any incentive scheme. Originality/value - Post-implementation period results were extra ordinary and unprecedented. Productivity was significantly enhanced to 15 percent in first six months, which increase up to 39 percent next year. Customer order and quality fulfillment met for the first time, relieving the management from great embarrassment. The annual incremental financial gain was more than Rs 1,000 millions. The methodology of identification of the root causes and the unique style of finding the solution are original in nature and would be helpful and guide for students, professionals of financial incentive designers, industrial engineers, managers and entrepreneurs.
机译：目的-本文实际上是PSU工厂停滞不前的传奇，尽管该公司采取了各种改进措施，但其生产力从未超过装机容量的65％。如果设计得当，本文的目的还在于展示财务激励措施在提高生产率方面的惊人力量。另一方面，通过强调错误的激励计划可能导致的损害程度，这也将为用户提供警告。设计/方法/方法-精益六西格玛方法有助于分析和改善问题，而“鱼骨图”和“层次分析法”之类的工具分别非常有助于识别此复杂问题的根本原因和优先级。调查结果-生产率低下的根本原因被确定为“由于激励收入不佳而导致员工队伍受挫”，对现有的财务激励计划进行了重新考虑。使用诸如SIPOC，“ heijunka”，“ brainstorming”等LSS工具来揭示现有财务激励计划中的关键缺陷。在修改和实施激励计划时采用了一些非常规和非常普遍的方法。研究的局限性/意义-涉及工会讨价还价的激励计划的修改通常受到双方（即工会和管理层）的抵制。尽管他们对相同事物的兴趣仍然不同。一个人害怕放松，而另一个人害怕让步。该案例研究也不例外。实际意义-期望产生抵抗力，准备好阴影并与各种“肢体测试”一起使用。加上完全透明，再加上充分的解释，使双方都感到高兴。因此，修改后的激励计划已被商定，随后由管理层批准实施。建议的其他补救措施和对策也很少执行。社会影响-整个员工队伍非常高兴，而且积极性很高。在修改后的激励计划中，两个竞争生产集团的激励权重相等，个人收入范围充足的规定成功地将集团间的仇恨转化为健康的完成。两组都在为更高的绩效和更高的收入做准备。自我激励变成了团体激励，这对于任何激励计划来说都是福气。独创性/价值-实施后的结果异常普通，前所未有。前六个月的生产率显着提高到15％，明年将提高到39％。第一次满足了客户订单和质量要求，使管理人员免于陷入极大的尴尬。年度增量财务收益超过10亿卢比。根本原因的识别方法和独特的解决方案风格在本质上是原始的，将为学生，金融激励设计师的专业人员，工业工程师，经理和企业家提供帮助和指导。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号