Entries by Albi4IS

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Top 10 Reasons for Employee Incentive Programs

Employee Incentive Programs reward exceptional employees for reaching work goals, achieving milestones or simply doing a good job. These types of programs are designed to offer incentive and rewards to valued employees. Employee Incentive Programs have proven very successful in arousing motivation in employees and increasing the overall performance of the company. An incentive program is a great way to show employees that you value their input while at the same time increasing your businesses potential.

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Four Tips For Structuring Incentive Programs

Company success rests on the performance of employees. As organizations look at ways to reward and motivate their workers, recognition methods have come a long way from a pat on the back and upgraded parking spot. Structured incentive programs—which reward employees for meeting performance-based milestones—are helping employees set, meet and exceed goals, and helping companies attract and retain valuable talent. Employee incentives also help build brand loyalty.

In fact, employees who participate in company-driven incentive programs say they feel more valued (85%), are more loyal to their companies (65%) and get better results (60%). And at companies without incentive programs, one-third of office workers say they’d put in an extra workweek each year, if their company would implement one.

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The Money Trap

With apologies to Shakespeare, we did not come to praise cash, but we didn’t come to bury it either – only its use as an employee incentive.

Research released within the past year continues to support the widely held belief that people who earn enough income to cover basic needs are happier than those who don’t. Beyond that minimum level, however, those who are much richer aren’t necessarily much happier.

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Generations

The first wave of Generation X recently turned 45, making Gen Y-ers the new youngsters. Traditionalists are wrapping up their careers, and Boomers soon could follow them into retirement – or not. With four generations on the job, employers find that their biggest diversity issue these days is age.

Sheila Gallagher tries to be a sensitive manager. So even though young Frank Brodie, a new Carleton College graduate, had just joined her restaurant sales and support staff at General Mills in August, Gallagher invited him to make a presentation at his very first staff meeting in September.

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Employee Engagement

As someone whose job it is to advise companies on employee engagement, I was fascinated to read “Making Employee Engagement Fashionable” by the CEO of Gucci recently on BusinessWeek.com. As I was moved to comment on the column, strategic recognition is the key to fostering a truly engaged workforce. As the recession drags on, company leaders are looking for any solution to boost morale, increase productivity, and help gain competitive advantage. Employee engagement is rapidly becoming the answer for many organizations, though many remain confused about the benefits of employee engagement, what it is, and how to foster it in their organizations.

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B Players

Micah Joel, a systems engineer at SupportSoft in Redwood City, Calif., calls himself a “B player.” There is no shame in his voice. He will work a 60-hour week when the company is under the gun but also feels no guilt when he cuts out early to volunteer in community theater or train for triathlons. His goal is balance, not a corner office. Gratifying work is more important to him than promotions or pay raises. “I work for mental chocolate,” says Joel, 29.

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