Can incentive pay perform for you?
Cash incentives have a mixed reputation and - let's be honest - probably deservedly so. Under the right conditions and when done well, incentive plans can be a powerful positive component of the employment relationship. When poorly conceived and placed, however, they not only bring nothing to the table, they have the potential to backfire in unexpected and unhappy ways.
Incentives are not the first move fix-all that many managers want them to be. In fact, they typically deliver positive results only under the right circumstances.
What are the conditions for making incentives perform for you? I think there are three key ones which must be satisfied before incentives are positioned in any way for success. Click over to my post today at the Compensation Cafe - and see what they are. And then ... share your thoughts!
Image courtesy of familyanatomy.com
I liked your blog & influenced with info you gave. Incentives contribute a lot in making performance better but this also depends on working conditions. Thanks for sharing this meaningful blog with us.
Posted by: Van Hire London | August 29, 2011 at 06:01 AM