Sourcing Inside Out: Penalties And Incentives In Outsourcing Contracts
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(0)Overview: This paper published by Sourcingmag.com is said to define basic expectations, and make it clear that consequences await if those expectations aren’t met. At the same time, encourage excellence and achievement through financial and other incentives. These principles can play a central role in managing an outsourcing relationship. By effectively defining penalties and incentives tied to specific business objectives, clients can create powerful incentives to work towards mutually beneficial goals. Penalties should be sufficiently substantial to prevent complacency and sloppy work. Incentives can enhance motivation and accountability and foster healthy competition, particularly in a multi-vendor environment
