The number of employers offering some type of incentive program is estimated between 60 and 90 percent, depending on the size of the employer. Despite being pervasive, that doesn’t mean all incentive programs accomplish what they are designed to do…many don’t.
It is important that the employee experience be a positive one. The incentive plan should be designed in a way that makes it easy for your population to understand what is involved and required of them to earn the reward. Avoid “cookie-cutter” incentives. The design should be flexible enough to appeal to the various demographics of your work force.
Whether you’re implementing a new incentive program or expanding on an existing incentive structure, it’s vital to get incentives right to achieve outstanding results. When an incentive plan is more ambitious than your resources can handle, it’s easy to miss important details, even for professionals who are on top of their game. Learn from other organizations’ experiences.
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