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1、RewardsandIncentivesinSportManagementLESM538--ManagingtheSportEnterpriseLesson9:Rewards&IncentivesinSportMgmtPurposesofRewardSystems1.Attractandretaingoodemployees2.Reduceabsenteeism3.Motivateenhancedperformance4.Developemployeeskills5.Facilitateorganizationalstrategicobjectives6.De
2、fineandreinforceorganizationalcultureLESM538--ManagingtheSportEnterpriseLesson9:Rewards&IncentivesinSportMgmtTypesofRewards•Intrinsic–factorsinternaltotheemployee–drivenbytheinterestinthetask/workdone•Extrinsic–factorsexternaltotheemployee–oftendrivenbyuncontrollablefactors•e.g.,mon
3、ey,grades,competition,etc.LESM538--ManagingtheSportEnterpriseLesson9:Rewards&IncentivesinSportMgmtTypesofExtrinsicRewards1.Financialvs.Non-financial2.Careervs.Social3.Directvs.Indirect4.Performance-basedvs.Membership-based5.WorkschedulesasrewardsLESM538--ManagingtheSportEnterpriseLe
4、sson9:Rewards&IncentivesinSportMgmtFinancialCompensationPlan•Objectivesshouldbeclearlystated–consistentwithcorporatestrategyandhumanresourceplan•Whatdoestheorganizationwanttopayfor?–Whatdoesitwanttoreward?•ObjectivesformthebasisonwhichpayandincentiveswillbeawardedLESM538--Managingth
5、eSportEnterpriseLesson9:Rewards&IncentivesinSportMgmtThreePrinciplesofEstablishingaPayStructure1.InternalEquity--aperceptionofcompensation–comparedtoemployeesinsimilarpositions–withinthesameorganization2.ExternalMarket--aperceptionofcompensation–comparedtoemployeesinsimilarpositions
6、–withinanotherorganization3.EmployeeContribution–performanceandeffortwithintheworkplaceLESM538--ManagingtheSportEnterpriseLesson9:Rewards&IncentivesinSportMgmtFactorsMajorMajorCollege/SportMinorArenas/BroadcastleagueleagueUniversitymarketingleaguevenues/mediateamsofficesathleticsage
7、nciesteamsAveragecompensation$79,560$77,500$44,930$103,077$50,698$63,684$118,269($US)Rangeof$25,000-$25,000-$25,000-$25,000-$25,000-$27,500-$27,500-compensation350,000312,50085,000350,000337,500162,500350,000%compensationbased12.3%13.9%2.5%19.7%18.0%4.7%23.5%onbonus/commissionBonuse
8、sbasedon45.7%37.2%5