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The Pros Of Incentive Programs
- Increased Productivity: Rewarding the delivery of tangible results reinforces that good work will be rewarded.
- Strengthens Succession Pipeline: Employees often try to improve their skills in the pursuit of incentives, ultimately increasing their own efficiency.
- Encourages Retention: A good incentive program increases employee job satisfaction and overall loyalty to the organization.
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- May Encourage Deception: Employees may look for ways to make their performance appear to be good when it isn’t.
- Misaligned Incentives: poorly conceived ones may incentivize risky and irresponsible behavior that undermines the mission of the company.
- Ongoing feedback from both customers and employees can help provide an indication of how well these programs are working.
- Deal with issues directly and transparently to ensure that employees are clear about the program’s expectations and goals.
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- Goals and objectives should be clearly defined for staffers.
- Workload should be equitably distributed to avoid resentment from staffers who feel they have to carry poor-performing team members.
- Consider both individual and group incentives to promote the...
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Employee engagement includes four elements and can be thought of as the degree to which an employee:
- Feels committed to an organization
- Identifies with an organization
- Feels satisfied with their job
- Feels energized at work.
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It refers to an observation wherein people who perform well in their job gets promoted until eventually, they will reach a stage where they are incompetent for that job.
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