Impact of Performance - Related Bonus on Motivation and Productivity
The case of Sunbird Tourism Limited Malawi
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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 positiv...
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.
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