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Performance Incentive

The right kind of performance incentive will motivate an employee to reach for new heights of achievement. Strong performance incentives act as beacons for employees, shining in the distance, acting as visible, attainable goals. If the performance incentive is something an employee really wants, he will do what is necessary to achieve it.

However, not every employee is motivated by the same thing, and different employees have different inherent abilities. Putting together performance incentive and bonus programs that work may involve creating individual incentives for each employee, depending on that employee's skills and goals within the job. Alternately, incentives and bonuses could be tied to performance within a department or among a team. This way, the various members of these groups can motivate each other toward a common goal, if the promised incentive is something that appeals to the group as a whole.

Find Performance Incentive and Bonus Programs That Work

It wouldn't be fair to expect executive-level work from an entry-level employee in order for that employee to get an incentive. However, if that level of work is performed by the employee, extra rewards could be offered. As employees work their way up through the company and gain more experience in their employment, new types of performance incentives can be offered for each employment goal that is reached.

Annual evaluations are often the time when new goals are set and new incentives offered. However, rewards can be available outside of evaluation time for exceptional work, and this is often a good business strategy. For help in designing performance incentive programs, contact Fox Lawson & Associates, a division of Gallagher Benefit Services, Inc at jfox@foxlawson.com for professional compensation consulting.

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