The Power of Incentives

April 25, 2017 by JasonWeldon

Incentives drive behavior. When you have someone working for you, they need to have incentives to produce results. Most of the time, the incentive is nothing that big. Having flex time, giving them their birthday off, buying them lunch, can all be easy things that make an employee want to work harder for you and themselves.

But let’s be honest, there are only so many lunches that an employee will take before they might be looking for a larger incentive. From an employer point of view, you need to reward good results. So having a pre-structured, incen- tive-based package can help with that. Typically you do this prior to hiring or at specific review periods during the year. If they have met their requirements and have done what you have asked them to do, the incentive package kicks in. If they haven’t, the package sits on the table until they do. A typical incentive for this kind of structure could be a monetary bonus, giving them greater decision making in the company and/or a promotion.

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JasonWeldon JasonWeldon (39 Posts)

Filed Under: 2017, Business