Share your thoughts and added examples on how the below post is true. Include 2-3 new professional references to support your findings.

Individual Incentives

Working at a college means there are multiple levels of employees. We have union and nonunion workers, faculty members, adjuncts, supplemental, student, staff, and executive employees most of which could fall into either part-time or full-time status. Because of this, individual incentives can be a more useful tool than other methods, as long as it is done correctly, as it would be difficult to create multiple incentives that would cover all these different types of employees through group or company-wide incentives.

Individual incentive plans can be a powerful tool for motivating and rewarding high performers, leading to increased employee engagement and improved overall organizational performance. By recognizing and rewarding top achievers, these plans further incentivize high performance within the organization (Shah, 2022). However, as Martocchio (2020) explains, individual plan goals need to be measurable, they need to be attainable, and they do not create interoffice competition. For example, incentives for faculty members who have their work published in journals or for winning awards for securing research funding can motivate employees to produce high-quality work without damaging those around them.

Group Incentives

Group incentive plans can be effective for departmental teams, encouraging collaboration and collective achievement of departmental goals. For example, departments could receive bonuses or additional funding for meeting enrollment targets, improving student outcomes, or implementing innovative teaching methods. However, as Martocchio (2020) explains, if group incentives are used, we must change individual incentives to emphasize the group rather than the individual, ensuring that the work being done is best for the team and not the player. Something to note about group incentives is the potential for free-riding, where one or more team members do not contribute in a meaningful way but are still awarded the incentive (What Are The Most, 2023).

Company Incentives

Company-wide incentive plans in a college can align all faculty, staff, and administrators with overarching institutional goals, such as improving graduation rates, enhancing diversity and inclusion, or increasing alumni engagement. Rewards could include performance-based bonuses, recognition events, or professional development opportunities for achieving these objectives. Having company-wide incentives is a great way to increase individual goals to be more in line with the college's short-term and long-term objectives as well (Czerwonka, 2024). Whatever the reward is, it has to be macro enough that it will equally affect all employees, regardless of their status at the college.

References

Czerwonka, E. (2024, January 1). How Employee Incentive Programs Can Motivate Teams. Buddy Punch. https://buddypunch.com/blog/how-employee-incentive-programs-can-motivate-teams/

Martocchio, J. (2020). Strategic Compensation: A Human Resource Management Approach 10th Edition. Pearson. ISBN 9780135192146.

Shah, S. (2022, April 28). Individual Incentive Plans: Pros And Cons Of Individual Incentive Plans. Incentivate. https://incentivatesolutions.com/individual-incentive-plans-pros-and-cons-of-individual-incentive-plans/

What Are The Most Effective Incentive Programs For Promoting Teamwork And Collaboration? (2023, November 13). LinkedIn. https://www.linkedin.com/advice/1/what-most-effective-incentive-programs-promoting