Incentive Program Design

Not everyone is motivated by a job well done.  Those valuable employees who have the time and ability to work harder may require a bit of prodding.  Negative persuasion sometimes works:  If you don’t do more, then I’ll fire you (a tactic that is profoundly bad for morale, by the way.)  Positive persuasion comes in many different forms – and to each his own.  Praise, recognition, gifts, time off, money, etc. are all forms of positive persuasion and should all be considered when developing an incentive program.
An incentive program is a way to align employees’ interest with those of management and/or owners.  A well-designed incentive plan can provide a stimulating environment, reinforce key objectives and actually add money to the bottom line.   A poorly-designed incentive plan is confusing and expensive and therefore a complete waste of resources.  Some key considerations when designing an incentive program that will get results:

• What objectives will be used to quantify and measure success?
• Which individuals should be included in the program?
• How long to structure the program and at what intervals do we communicate?
• What ROI is appropriate for the incentive program?

Hendrickson Business Advisors will work with your management team to discover what motivates your employees and how you can provide those rewards in return for exceptional productivity.