Month: April 2022

The performance related compensation (PRC) of employees can have a significant impact on an organisation's performance profile, and focusing on this can boost the overall profile of the company. According to Charlie Trevor, a professor at Wisconsin School of Business, money motivates people. So, why do you need to give employees bonuses and other types of rewards? In this article, you will learn about the various types of PRC and how they affect employee motivation. Other Symbolic Methods of Recognition Symbolic rewards have widely used in the workplace to motivate employees and foster a competitive environment. For example, an employee may receive a monthly gift basket, but does not get additional pay or perks. Instead, he or she earns pride in owning the prize. These types of rewards a...

Market Research : There are a number of ways to perform market research for your business plan. The most effective method involves conducting surveys of potential customers. Typically, you want to focus on companies with similar ownership structures. This way, you can determine if your product or service will attract a similar market. It's also helpful to look for competitors in your niche. But, which market research methods should you use? Primary Market Research The best way to learn about your target market is by talking to them. But if you want to know what they think, you need to get off your computer and actually speak to them. This is called primary market research. You can also use secondary sources, but they should be well-referenced to give your readers more confidence in your ...

Turn Your Employees Into Bold Leaders : What are the qualities of bold leaders? The answer to this question lies in how bold they are willing to take on difficult goals. Bold leaders are willing to propose game-changing goals. These types of leaders also look outside their organizations to learn from other groups. Understanding these groups' issues can create synergies within departments. They are also capable of bringing back important information that helps the organization succeed. Characteristics of Despite the risk-averse nature of today's world, education requires bold leadership to prepare students for tomorrow. Rather than fly under the radar, a bold leader must stay positive while fostering collaboration and hope. To do this, a bold leader must be confident, not afraid of being ...