Managing Through Incentives: How to Develop a More Collaborative, Productive, and Profitable…

Hardcover | November 28, 1998

byRichard B. McKenzie, Dwight R. Lee

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Incentives are the most powerful tools executives can use to improve worker performance. This is particularly true in today's empowered workplace, where incentives can ensure that workers apply their initiative toward company goals. Now, in this groundbreaking book, Richard McKenzie andDwight Lee show how to select the right incentives and how to use them for best results. Generously illustrated with examples from business, industry, government, academia, and professional sports, this superb volume offers a comprehensive overview of incentives, both in theory and in practice, providing a wealth of ideas managers can use to get employees to work harder, smarter,and more cooperatively. Much of the book is quite eye-opening. For instance, while McKenzie and Lee recognize that money is the prime motivator, they urge managers not to overlook the power of non-monetary incentives, carefully evaluating such motivators as fringe benefits, psychological incentives,education, and training. And they examine a host of other issues, including how to take advantage of executive "overpayment" to increase profits; the limits of piece-rate and other pay-for-performance schemes; finding the right balance between current pay and a more generous pension plan; the valueof tough bosses; and hostile takeovers as a form of managerial incentive. How workers are rewarded is often more important than how much they are rewarded, say the authors. The job of good managers is getting the incentives right. Managing Through Incentives shows managers how to apply proven motivators to help any size firm energize the work force, increase itsprofits, and meet the awesome challenges of today's fiercely competitive global economy.

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From Our Editors

If the world were a perfect place, managers and workers would have respect for each other and be efficient, competent workers. A groundbreaking book, Managing Through Incentives: Creating Profitable Teams of Managers and Workers shows how to select the right incentives and use them for the best results. Learn how to get employees to wo...

From the Publisher

Incentives are the most powerful tools executives can use to improve worker performance. This is particularly true in today's empowered workplace, where incentives can ensure that workers apply their initiative toward company goals. Now, in this groundbreaking book, Richard McKenzie andDwight Lee show how to select the right incentive...

Richard B. McKenzie is Walter B. Gerken Professor of Enterprise and Society in the Graduate School of Management, University of California, Irvine. He lives in Irvine. Dwight R. Lee is Ramsey Professor of Political Economy in the College of Business, University of Georgia. He lives in Bogart, Georgia.

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Format:HardcoverDimensions:352 pages, 9.29 × 6.3 × 1.3 inPublished:November 28, 1998Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195119010

ISBN - 13:9780195119015

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From Our Editors

If the world were a perfect place, managers and workers would have respect for each other and be efficient, competent workers. A groundbreaking book, Managing Through Incentives: Creating Profitable Teams of Managers and Workers shows how to select the right incentives and use them for the best results. Learn how to get employees to work harder and how to use education, training and fringe benefits as motivators. Fully illustrated with examples from business, industry, government and professional sports, discover an overview of incentives, both in theory and practice.

Editorial Reviews

"This book distills important lessons of economics for managers in a useful and readable way, with many examples and applications."--Paul H. Rubin, Professor of Economics, Emory University, and Editor-in-Chief, Managerial and Decision Economics