Monday, March 1, 2021
Incentive programmes are common practice for improving performance, but how successful they are will depend on how much thought goes into their setup.
Cash may be king but as a long-term motivator it has limited value; employees either get used to the amount they’re paid or resent the amount lost to tax.
In truth, to properly motivate staff firms require systems that recognise and reward. The fact that employee recognition is so important should be obvious for all to see; countless firms have boards in the public domain that detail ‘employee of the month’. And they do this because they’ve understood that workers want not just money, but recognition amongst their peers for outstanding work and service.