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For Senior Management, From Senior Management – August 2012 Edition

August 2, 2012

W. Michael Scott – President/CEO of FMSI

Driving Organizational Change

A favorable way to drive organizational change is to offer consistent and ongoing financial incentive programs based on achievement of goals. FMSI’s Incentive Pay Program utilizes Dr. W. Edward Deming’s approach to quality of rewarding both team and individuals for the obtainment of their goals, productivity and or quality. This approach most successfully ensures buy-in and ownership of the output by the team and individuals. For example, if a branch teller line has a staff of six, and one person leaves through attrition, the remaining five, who are motivated to earn more incentive pay dollars, are more likely to successfully absorb the activities of the vacated person, and the quality of work will not suffer.

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