Employees are the real motivators to success
Employees are the real motivators to success
Company incentives, also known as variable pay programs were a novelty in the late 90's, they were considered non-traditional. They were good news for employees who could now add substantially to their bottom line even while the rates of merit pay were shrinking. Companies realized that they could afford to pay individuals for specific goals, without having to guarantee amounts to everyone regardless of performance. When earnings were down they no longer had to pay out guaranteed raises that could threaten the companies existence. Employees would still be able to keep their jobs and hence morale and productivity would remain high thanks to company incentives.
Company incentive programs however are not easy to design. Invariably they require that the employees have an opportunity to participate in their design. It is also important that a good company incentive program keep in mind the business philosophy, be aimed towards long term goals, defer some of the compensation to attract and retain employees.
A company incentive program also needs to have precise and attainable goals and have elements that are within the employee’s control. The company incentives should try and reward team and individual accomplishment, foster co-operation between teams and departments. Finally it should pay out at the earliest most meaningful time for the particular company.
Company incentive programs are not exclusive to large companies. Smaller business can find their own ways to provide variable pay. Creativity is required and done right can very well help smaller companies attract employees that might otherwise only look into employment opportunities with larger companies. Company incentive programs are a great way for smaller companies to stay competitive without lowering their bottom line, they may even find that implementing a company incentive program can boost their bottom line.
Employees are the real motivators to success - To learn more about this author, visit Sheryl Strasser's Website.
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There are many company incentives offered these days such as bonuses, benefits, a corner office, a plaque, praise from senior staff, promotions, the ability to work on high-profile projects, and the list goes on. Stock options also became a very popular form of company incentives for a while as a way of giving participating employees an opportunity to get better compensation and a sense of company ownership. But in recent years with the advent of fraudulent activities by some upper level management that led to the devaluation of stock or the outright demise of companies, employees are a little more resistant to taking stock options in exchange for lower salaries as a form of company incentives. Many people no longer trust management to look out for their best interests and to ensure that their investments in the company are safe.
Company incentives, also known as variable pay programs were a novelty in the late 90's, they were considered non-traditional. They were good news for employees who could now add substantially to their bottom line even while the rates of merit pay were shrinking. Companies realized that they could afford to pay individuals for specific goals, without having to guarantee amounts to everyone regardless of performance. When earnings were down they no longer had to pay out guaranteed raises that could threaten the companies existence. Employees would still be able to keep their jobs and hence morale and productivity would remain high thanks to company incentives.
Company incentive programs however are not easy to design. Invariably they require that the employees have an opportunity to participate in their design. It is also important that a good company incentive program keep in mind the business philosophy, be aimed towards long term goals, defer some of the compensation to attract and retain employees.
A company incentive program also needs to have precise and attainable goals and have elements that are within the employee’s control. The company incentives should try and reward team and individual accomplishment, foster co-operation between teams and departments. Finally it should pay out at the earliest most meaningful time for the particular company.
Company incentive programs are not exclusive to large companies. Smaller business can find their own ways to provide variable pay. Creativity is required and done right can very well help smaller companies attract employees that might otherwise only look into employment opportunities with larger companies. Company incentive programs are a great way for smaller companies to stay competitive without lowering their bottom line, they may even find that implementing a company incentive program can boost their bottom line.
Employees are the real motivators to success - To learn more about this author, visit Sheryl Strasser's Website.
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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