LSM533 - Measuring and Motivating Performance

Course Description

Incentive compensation is one of the most powerful tools managers have to motivate and direct their employees—but like any powerful tool, it can cause great damage if not wielded carefully! This online course will help you understand how to match forms of incentive compensation to your firm's circumstances, and identify and respond to incentive-strategy mismatches.

Faculty Author

Benefits to the Learner

• Predict the intended and unintended consequences of a pay-for-performance model in your organization
• Determine and compensate for the economic as well as the psychological and behavioral effects of a pay-for-performance system
• Recommend improvements in measuring and monitoring performance to mitigate unintended outcomes
• Recognize and adjust for common psychological and behavioral biases in yourself and others when interpreting measures of performance
• Evaluate how well the budgeting process and approach in your organization balances the supply and demand of production and performance to devise performance standards that support the needs of the business

Target Audience

People at all levels in any functional area in for-profit, not-for-profit and governmental organizations who want to be more effective in:

• Specifying organizational strategy, or implementing the strategies specified by others.
• Linking performance evaluation and incentives to organizational strategy.
• Revising strategy and operations to accomplish strategic goals at lower cost.
• Helping employees collaborate and work together across departments and functional areas, and communicate more effectively with colleagues about the goals and performance of their organization.

Accounting and finance people will also benefit enormously from this program. This series applies the work of accounting, measurement, and thinking strategically about costs and performance in every corner of an organization.