Liska, R W and Snell, B (1992) Financial incentive programs for average-size construction firm. Journal of Construction Engineering and Management, 118(4), pp. 667-676. ISSN 0733-9364
Abstract
Properly applied financial incentives are a powerful motivational tool that can inspire employees to improve their performance, thus increasing profits and strengthening the company. In light of such potential benefits it is unfortunate that the overwhelming majority of construction contractors do not offer financial incentives to their field workers. Research is performed to study many issues relating to financial incentive programs for small-to-medium-size construction companies located in the southeastern United States. The results of the study indicate that the contractors surveyed generally knew about financial incentive programs, used different types of them to increase productivity, rarely studied financial incentive programs, needed firm proof that programs are effective and efficient, and desired information on how to develop one for their own company. If a financial incentive program is to be developed it must have commitment from top management, be based on realistic productivity standards, be efficiently managed, and have worker support.
| Item Type: | Article |
|---|---|
| Index terms: | commitment, construction company, construction firm, profit, financial incentive, United States, construction contractor, top management, program, strengthening, productivity |
| Subjects: | Geography, structural engineering, management, software systems, practitioner, organization, economic analysis, psychology |
| Topics: | Digital Applications, Organizational Design, Engineering Principles, Geographical Context, Business Strategy, Roles and Professions |
| Descriptive scope: | 2 PC |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here