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Published on: 09 Mar 2017 by jennifertay
To keep the office morale and company production at a high level, more companies are employing a technique called employee incentives programs. This latest tactic rewards outstanding employees for their hard work and production. A employee incentive program also spurs those who didn't win to work hard to compete for the reward. In the end, the strategy benefits the company because everyone is exerting their best efforts every day.
Employee incentives program gives employees something to look forward to as a result of exemplary office performance, be it in the area of employee attendance (i.e. free of absences or tardiness in the past month or during the last six months), sales (i.e. meeting the quota consistently or surpassing a sales mark consistently in a span of time) or even in little things like cleanliness in the workspace and office courtesy.
The rewards given to the winner come in different shapes and forms. It all depends on the resources the company is willing to shell out. Some companies give their best and most efficient employee with very generous items, such as cash, free vacation trip or a car. Other companies financially-strapped offices give away more modest items, such as meal stubs, coffee mugs, and company shirts.
The programs are planned by the company's Human Resources department, with the help of some key operations and management personnel. They consider different schemes and modes to determine what strategy would best suit the company. In some cases, management allows their employees to submit suggestions on how the incentive program should be handled. This fosters a friendly atmosphere between the top brass and employees, to make the office a less stressful place to work in.
Though money is a common form of employee incentive, team rewards are different. Many companies prefer compensating a group of employees in non-monetary forms, such as group dinners, bowling nights or parties. Anything would work as long as the everyone in the group has a good time.