Introduction
Organizational performance experiences one of the most challenging scenarios in the industrial sectors of the country. In many instances, the construction managers face the challenge of identifying the best approach to enhance project appraisal at individual level. The confusion of institutional payment management against the general project management is a big headache in the Australian context. Incentive payment is an effective way of promoting organizational performance. Besides motivating internal performance of individuals, it enhances the desire to achieve the target goals of the organization (Standing et al., 2014). This paper seeks to examine the use of incentives in the organizational levels rather than project levels in the construction industry of Australia.
Overview of Literature content
There are various articles that have been written to explain the concept of payment incentive. For Higgins et al. (2014), payment incentives present a financial benefit of ensuring effective motivation among the workers within an organization. This definition is much supported by Chancellor & Abbott (2015) who state that payment incentive, in combination of other financial payment mechanisms, forms a strong strategy that used to motivate workers in the organizations. These include sharing of profits and giving bonuses based on the performance outcome. Other ways of enhancing motivation in the organization include applying penalties and other financial duties on underperformance in the organization (Loosemore, M. 2015).
However, Lloyd-Walker et al. (2014) notes that the challenge of identifying the means of incentive payment is more effective between organizations or the project entity. Construction projects and organizational performance portray an interplay that is difficult to distinguish. Thus, the approach of paying incentives at the organizational level promotes individual performance rather than the general workforce (Cheung et al., 2012). Senarathna et al. (2014) asserts that using such approach will promote an exclusive strategy to manage the construction industry. Australian companies have posited a situation of rising number of construction companies that engage in the myriad projects across the region (Keating & Keating, M. 2013).
Objectives of the program of research and investigation
The project seeks to examine the challenges and benefits of using payment incentives at the organizational level as opposed to the project levels. A number of challenges need to be evaluated in the area. However, the following objectives will the researcher to achieve the research goals and objectives:
To investigate the benefits of payment incentives in the construction industry
To examine the challenges of using payment incentives at the project levels as opposed to the organizational level.
To evaluate the interplay of organizational performance and project activities in the use of payment incentives.
Research methods and plan.
This cross-sectional study will exploit the comparative analysis of the benefits of payment incentives at the level of organizational level or project level. Qualitative data analysis will be carried out in the region of Australian construction industries. Semi-structured questionnaires were used to interview the managerial teams in the construction industry. A number of questions will be asked in the process of study design. Cover letter of the questionnaire will enable the respondent to identify my intentions, my background information among other identifiable details that they may require. Moreover, help in requesting their participation without having to speak to each at a time.
Other methods will include observation, transcribing, and material survey. This will enable the researcher to identify the key concepts of financial management strategies in the region of construction industry.
