With employees, what you pay (or reward) is what you get – but what you pay doesn’t have to be money.
In this summary you will learn
- How to establish a good reward system
- Why functional reward systems must address three basic principles
- How to measure things that matter
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Why you should read Reward Systems
Most parents can tell you how a good reward system works: Offer a child a desirable reward contingent upon a particular action or behavior, and you’re likely to get results. What works in child raising apparently has some merit in business as well. getAbstract recommends Steve Kerr’s complete instructions about how to construct and implement reward systems. He explains the flaws of ineffective systems and sets out his recommendations for building productive ones. As a senior adviser to Goldman Sachs and the former vice president of corporate leadership development under Jack Welch at GE, Kerr knows his stuff. He says many executives understand the concept of rewards, yet fall woefully short in executing constructive programs. Putting together a viable reward system isn’t child’s play. But as Kerr shows you, it’s not rocket science, either.
About the Author
Steve Kerr, senior adviser to Goldman Sachs, spent seven years as vice president of corporate leadership development at General Electric.
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