Assignment Task: Dow AgroSciences LLC, based in Indianapolis, Indiana, is a global leader in providing pest management and biotechnology products that improve the quality and quantity of the earth's food supply and contribute to the health and quality of life of the world's growing population. Dow AgroSciences employs approximately 6,000 people in more than 50 countries and has worldwide sales of approximately US$ 3 billion. Dow AgroSciences is a wholly owned subsidiary of the Dow Chemical Company.
Consider the following information about Dow AgroSciences:
Mission. Dow AgroSciences delivers innovative technology that exceeds market needs and improves the quality of life of the world's growing population through responsible pest control, aiding the production of an abundant, nutritious food supply, and the use of plants as a renewable agricultural resource to produce new and improved agricultural outputs.
Vision. We are a premier company applying chemical, biochemical, and genetic solutions to agricultural and specialty market needs.
Core Values. To ensure the prosperity and well-being of Dow AgroSciences employees, customers, and shareholders, cumulative long-term profit growth is essential. How we achieve this objective is as important as the objective itself. Fundamental to our success are our core values we believe in and practice:
Employees are the source of Dow AgroSciences' success. We communicate openly, treat each other with respect, promote teamwork, and encourage personal initiative and growth. Excellence in performance is sought and rewarded.
Customers receive our strongest commitment to meet their needs with high-quality products and superior service.
Products are based on innovative technology, continuous improvement, and added value for our customers and end users.
Our conduct demonstrates a deep concern for human safety and environmental stewardship, while embracing the highest standards of ethics and citizenship.
Questions:
In light of the Dow AgroSciences' mission, vision, and core values, do you believe a performance-contingent pay approach would be effective? Describe important considerations for how such a system would be implemented. Describe important considerations for how such a system would be implemented
References:
Rynes, S. L., Gerhart, B., & Minette, K. A. (2004). The importance of pay in employee motivation: Discrepancies between what people say and what they do. Human Resource Management, 43(4), 381-394.