Incentive schemes for treasury dealers in Singapore - policies, practices and effectiveness.
The purpose of this research undertaking is to evaluate the effectiveness of incentive schemes in Singapore. This project focuses on incentive schemes implemented in the financial sector, particularly among the dealers. Many motivational theories had supported the use of incentive schemes t...
Saved in:
Main Authors: | , , |
---|---|
Other Authors: | |
Format: | Final Year Project |
Language: | English |
Published: |
2013
|
Subjects: | |
Online Access: | http://hdl.handle.net/10356/51799 |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
Institution: | Nanyang Technological University |
Language: | English |
Summary: | The purpose of this research undertaking is to evaluate the effectiveness of incentive
schemes in Singapore. This project focuses on incentive schemes implemented in the
financial sector, particularly among the dealers. Many motivational theories had supported
the use of incentive schemes to influence the behaviour-outcome relationship among the
employees. However, incentive schemes can only be effective in achieving the outcome
that management desires if it is properly designed and implemented. Therein lies the
importance of our research undertaking, by looking at the effectiveness of incentive
scheme, from the viewpoint of the dealers and their employers, we will be able to gauge
the success of the incentivc scheme in motivating the dealers to achieve the organisational
goals. In addition, certain recommendations are made regarding the design and
implementation of incentive schemes, hopefully, for improving the effectiveness of the
incentive schemes.
To obtain the research data, questionnaires were addressed to 110 financial companies
selected randomly from the business listings phone directory.
One notable point is that the research findings suggest that not all companies implement
incentive schemes for their dealers. The majority of those companies which implement
incentive schemes are companies with twenty or more dealers. However, we recommend
that all companies should implement incentive schemes as incentives not only help to
satisfy an employee’s needs, but it also serves as a reward for better performance. |
---|