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Exploring employee preferences for the Farm Credit System incentive program

By Autumn Marie Crider

Abstract

Master of AgribusinessDepartment of Agricultural EconomicsBrian NiehoffThe purpose of this thesis was to examine the relative efficacy of the incentive plan for loan officers within Farm Credit of the Virginia’s, ACA (FCV). The purpose of FCV’s incentive plan includes promoting firm financial growth and stability, employee retention, and encouraging teamwork. Incentive plans are important financial decisions for companies and these plans have upside potential and downside risk that should be considered in the decision making process. A literature review was conducted to analyze incentive practices and management theory in addition to a review incentive plans from other Farm Credit associations. A survey was also conducted to understand loan officer perceptions of the current incentive plan at FCV. The results of the survey provide insight into employee perceptions about job satisfaction, intrinsic motivation, extrinsic motivation, organizational commitment, understanding of the incentive plan, and timing of incentives. Finally, observations with regards to potential improvement in the incentive plan were provided

Topics: Incentives, Organizational commitment, Job satisfaction, Business (0310), Psychology (0621)
Publisher: Kansas State University
OAI identifier: oai:krex.k-state.edu:2097/14042

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  1. 1 I am able to keep busy all the time.
  2. 10 I am proud to tell people what I do.
  3. 11 I have the chance to do something that makes use of my abilities.
  4. 12 I am satisfied with the way company policies are put into practice.
  5. 13 I am satisfied with my pay and the amount of work I do.
  6. 14 There are chances for advancement on this job.
  7. 15 I have the freedom to use my own judgment.
  8. 16 I can try my own methods of doing the job.
  9. 17 The working conditions are satisfactory.
  10. 18 My co-workers get along with each other.
  11. 2 I am satisfied with the chance to work alone on the job.
  12. 20 I have a feeling of accomplishment from this job.
  13. 21 I feel more committed to this career than I did a year ago.
  14. 22 I am highly committed to remain with this organization.
  15. 24 I am satisfied with my incentive plan.
  16. 25 I am actively looking for a job outside of this organization.
  17. 26 The incentive plan helps this organization retains its most talented employees.
  18. 27 I feel the amount of the incentive I receive is sufficient to keep me motivated.
  19. 28 If another opportunity presented itself, I would NOT consider leaving.
  20. 29 The current incentive plan motivates behavior that accomplishes the Association’s goals.
  21. 3 I am satisfied with the chance to do different things from time to time.
  22. 30 Company leadership keeps the employees informed about the status of the incentive plan.
  23. 31 Incentives should generally be paid as immediate as possible for maximum effect.
  24. 32 The incentives received through our plan are not large enough for me to be motivated.
  25. 33 The long term payout of incentives is a good investment in employees.
  26. 34 The incentive plan is simple and concise.
  27. 35 I feel the magnitude of the incentive is fair under my plan.
  28. 36 The performance criteria that I must meet to receive incentives are attainable.
  29. 37 I feel that I am recognized for my individual contribution through the incentive plan.
  30. 38 I fully understand how the incentive plan works.
  31. 39 Incentives drive me to meet or exceed my goal.
  32. 4 I have chance to be “somebody” in the community.
  33. 40 I can calculate the amount of incentives that I will receive from each task I complete.
  34. 41 I believe the payout frequency is fair
  35. 42 The incentive keeps me from looking for employment elsewhere.
  36. 43 I receive regular feedback during the year as to the amount of incentives I have earned thus far.
  37. 45 I feel encouraged by my coworkers to strive to achieve incentives.
  38. 46 I lose interest in my work when my incentives are paid on a delayed basis.
  39. 47 I do not believe I can achieve maximum incentives so I limit my effort to what I feel is sufficient.
  40. 48 I agree with group focused incentive plans.
  41. 5 I am satisfied with the way my boss handles his/her workers.
  42. 6 I am satisfied with the competence of my supervisor in making decisions.
  43. 7 I am able to do things that don’t go against my conscience.
  44. 8 I am satisfied by the way my job provides for steady employment.
  45. 9 I enjoy the opportunity to do things for other people.
  46. (2007). A Framework For Compensation Plans with Incentive Value.”
  47. (2010). About Us” AgFirst Farm Credit Bank. http://www.agfirst.com (accessed
  48. I received praise for doing a good job.
  49. supervisor is well informed about the incentive plan and can answer any questions that I may have.

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