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Employee Incentive Programs

In: Business and Management

Submitted By lalbert2012
Words 518
Pages 3
Employee Incentive Programs

Leasil Albert

OMM 618

Prof. Steven Pierce

May 8, 2012

Employee Incentive Programs

Employee incentive plans are successful resources to encourage reliability, obligation, and serious hard work. Employee incentive programs should be a key apprehension for managers today. It is becoming more and more complex to attract and keep high-quality employees, and opposition amid companies for the professional personnel is powerful. A carefully intended plan can advance not just the individual employee's attitude, but the association entirely. One of the most frequently known employee incentive plans is recognition. A recognition program can emphasize numerous key areas such as the number of years an employee has been with the company, peer recognition, monthly appreciation ceremonies, or recognition for an explicit job well done. Bonus incentive programs are very useful tools in getting and keeping excellence employees. A bonus incentive program does not have to be financial to be successful.

Studies have revealed that employees from time to time react fine when commended for great work, as they do money. For some organizations, a system of admiration and recognition for supported by small, non-monetary rewards may be adequate to keep employees motivated. A disadvantage in recognition programs is that a more pay-based reward programs might be necessary to keep employees motivated. Employee recognition programs usually honor employees who have achieved well with gifts or other rewards that is not monetary compensation. These rewards could vary from trophies, plagues, certificates, paid time off and luncheons in recognition of the employee. An advantage in employee recognition programs is being aware of efforts and greater actions similar provide to encourage the employees. A lack of...

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