Word: rewarded
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...Reward...
...Your Pay? Probably munificent -- and nearly risk-free -- if you're a U.S. chief executive. While a few companies reward the boss sensibly, many enrich him regardless of results. For many workers, the opposite trend is taking hold: compensation tied to performance. If it makes sense for the troops -- and it often does -- then why not at the top? CEOs: No Pain, Just Gain...
...growing number of workers these days in hopes of engineering a revolution in the way everyone, from janitor to junior executive, gets paid. The question lies at the heart of far-reaching new programs called pay-for-performance plans, which typically start with reduced base wages and salaries but reward employees with handsome bonuses for hitting production targets or meeting other goals. "This is the hottest area in compensation today," says Steven Gross, a vice president of Hay Management Consultants. "Just about every major company is examining its pay strategy...
...roughly 4 million U.S. workers covered by such plans are living by the ancient rule of markets everywhere: risk and reward go together. Unlike corporate chieftains, who often prosper no matter how their companies fare, workers in these programs may suffer painful cuts in income when times are lean. Uncertain pay can create problems when it comes to such mundane matters as applying for mortgages, which usually demand predictable annual income -- to say nothing of the impact of variable wages on one's ability to pay back loans. But the payoff can also be great, allowing productive employees to make...
...generally requires a concrete demonstration of confidence in them by giving them more authority and freedom. Many companies might hesitate to take that chance. But if they want the benefits of a successful pay-for-performance plan, it's the only way. For employers, as for workers, risk and reward go together...