<ul><li>Goals and objectives should be clearly defined for staffers.</li><li>Workload should be equitably distributed to avoid resentment from staffers who feel they have to carry poor-performing team members. </li><li>Consider both individual and group incentives to promote the concepts of solo effort and teamwork.</li></ul>

Incentive Program Essentials

<ul><li>Motivational Tool: Incentive programs motivate employees to be more productive and consequentially increase the company’s earnings.</li><li>Promoting Teamwork: members of teams that earn bonus according to collective productivity may support and encourage each other to perform at top levels. </li><li>Morale Boosters: if employees see a direct correlation between effort and earnings morale and job satisfaction increases while turnover and absenteeism decreases.</li><li>Service Levels: employees competing for or striving to meet the goals of an incentive plan may provide higher degrees of service to your customers. </li></ul>

Effects Of Incentives On Business

Incentive plans are formalized approaches to offering recognition and reward to employees for meeting pre-established goals or objectives. Incentives may include cash bonuses, profit sharing, additional paid vacation time or any range of prizes such as gift cards, corporate merchandise or other products or services. ...