An incentive plan involves a set of formal schemes set to encourage a specific group of people towards some specific activities. It is used in business in the managerial sector to motivate the workers. This essay aims at analyzing long-term and short-term incentives for a middle manager and the various reasons why the incentives will be able to motivate the middle managers. It also gives reasons to why the middle managers require separate consideration.
A middle manager is an employee entrusted to manage one among the principal departments in a company and reports to higher management. This group of managers requires an incentive plan to keep them motivated in their duties which needs both short and long-term plans.
Short term plans run for a short period and are meant to build up towards the accomplishment of the long-term plans. First, organizations must recognize the daily or weekly successes of the middle managers and reward them accordingly. Many companies assume that they can reward the managers after the accomplishment of a major organizational goal, which might take time to achieve. The managers might get worn out as they await that reward for their efforts. Therefore, businesses must recognize the daily achievements of a middle manager and keep encouraging them. Such appreciation keeps the middle manager employees motivated for their everyday work, hence giving back their best.
Another short term strategy is that rewarding in the form of bonuses or incentives among middle managers within the same institution must be fair and in the open. Some companies tend to acknowledge the organizational managers for the achievements seen while forgetting the middle managers who do their best in their positions towards the overall success of the company. A company must establish fairness in offering bonuses and incentives, ensuring every middle manager feels appreciated for their work as any other manager in the institution. Also, an organization should create a particular reward system for the middle managers, to recognize each of them with fairness. The reward system will encourage the middle managers to do their best knowing that their efforts will get noticed without biases.
Besides, a company can set up individual incentive plans to guide the manager's appreciation plans upon the middle managers meeting the expected targets explicitly set for them. The managers will feel motivated when they achieve their objectives and receive the apparent reward for the same.
It kills the morale of middle managers when an organization hires a manager from outside their company without considering the potential within the middle managers. It sends a negative message about the existing workers when a promoting position gets given to an outside new member. The middle managers might think that they are not good enough for promotion or that the institution has no confidence in their work. Therefore, it is important for a company to promote its middle managers to available higher positions as a way to acknowledge them. Middle managers always work hard looking forward to a future better position. Therefore, a company must appreciate the time and service offered by middle managers by entrusting them with a better position. Internal middle managerial employees always know the rules, tactics, requirements and the best ways to serve their institution and hence are always at a better position at becoming better managers than external people hired for the same position. A middle manager given a higher position would be very pleased because they feel recognized for their continuous efforts and ready to do better for the same company.
Middle managers have specific requirements that a company needs to meet. Many companies have adopted the flattened tiers of hierarchy that leave middle managers without clear instructions on where they lie. Any institution will always have people running the smaller departments for maximum results. Therefore, a company needs to set levers, rules, and responsibilities that make a conducive environment for the middle managers. It encourages the middle managers as they know they are not assumed as normal employees.
Also, these group of workers can receive long-term cash plans to recognize them for their continued service in the particular institute. Such plans boost the morale of the middle manager, propelling them to do better in their positions.
Middle managers run things on the ground, interact the most with employees and understand their positions better than the managers of the company. Middle managers are essential because they act as a bridge between the employers and workers. They collectively coordinate activities in various departments, ensuring the overall success of the company. A company needs to show separate consideration to this group of employees because their success reflects on the whole company and any of their failures affects the entire institution.
In conclusion, middle managers carry out essential roles in accompany and hence require maximum motivation to keep doing their best in their jobs. A good incentive plan can lead to better profits for a company.
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