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Joined: 21 Dec 2009
Posts: 588
Concentration: Entrepreneurship, Finance
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Thanks for taking your time. [#permalink] New post 21 Nov 2011, 05:08
I gave some reasons then developed them in the subsequent paragraphs;
do you feel my points are solid enough, or what other examples seem better.
Yes, I wasted much time in the early paragraphs, so no time for the conclusion.

Please critique, and advice.
On a scale of 6, what do you think this essay worth?

+++++++++++++++++++++++++++++++++++++++++++++++++++++
ESSAY QUESTION:
“Monetary compensation is the most powerful stimulus for improving employee productivity.”

Discuss the extent to which you agree or disagree with the position stated above. Support your viewpoint using reasons and examples from your own experience, observations, or reading.

YOUR RESPONSE:
Very controversial no doubt, the subject whether monetary compensation is the most powerful stimulus for improving employee productivity also remains an interesting one. While some people are of the opinion that monetary compensation is the most compeling stimulus to productivity, others believe that financial compensation, rather than improves productivity, dampens productivity. In this presentation, I hereby present issues that support the later and refute the former position.

First, financial compensation has not been a very good tool for staff compensation. It has the potential to lure staffs to make needless and largely unsupported claims. The overtime is a good example. In my former company, Liquified Natural Gas Nig ltd, members of staff where expected to fill a time sheet for the work done during the particular month. Because staffs were compensated for putting in extra hours, an over time, they usually fill the time sheet with huge amount of working hours. This practice makes some staffs unecessarily richer than even their supervisors - a situation that often leads to insurbordination. In other aspects, the over time financial rewards, creates loopholes in the financial management of a company. Imagine a budget that is usually overspent as a result of over time; in the end, the company will face a financial squeeze .

Second, people will not comit their best efforts in achieving optimal productivity because they may prefer to shift some works to the over time periods thereby creating an inefficient system. The senior upper management staffs of a company may not be encouraged by financial incentives for reasons that they are likely financially buoyant. If the practice of monetary compensation is to increase productivity, the senior staffs are exempt from improving this critical aspect of managing an organization.

Finally, the best motivating practice of encouraging productivity is to encourage staff in believing that they are equally part of the system. This is of Microsoft. Little wonder Microsoft has been an insurmountable leader in the Information Technology and Personal Computer industry. Staffs are optimally motivated, they put in their best, and productivity increases. Ultimately, the company grows. If other company are to carry out this practice, there is every tendency that they will grow.

In conclusion, the practice of financial compensation is not the best incentive from the above discussionto staffs. Rather other aspects should be encouraged.I
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Thanks for taking your time.   [#permalink] 21 Nov 2011, 05:08
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