Incentive programs boost employee morale & productivity

Motivating employees and restoring previous levels of productivity is a hot business topic. A recent WorldatWork study found that 85% to 95% of all incentive programs reach or exceed their goals, and that the return on investment on non-sales employee programs (200%) is actually greater than the ROI...

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Bibliographic Details
Published inWorkspan Vol. 45; no. 3; p. 30
Main Author Keegan, Brendan P
Format Trade Publication Article
LanguageEnglish
Published Scottsdale WorldatWork 01.03.2002
Subjects
Capital costs
Communication
Compensation
Customer services
Employee morale
Employees
Executives
Incentive plans
Incentives
Layoffs
Objectives
Polls & surveys
Productivity
Return on investment
Statistical data
Stock options
Verbal communication
United States > US
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Summary:Motivating employees and restoring previous levels of productivity is a hot business topic. A recent WorldatWork study found that 85% to 95% of all incentive programs reach or exceed their goals, and that the return on investment on non-sales employee programs (200%) is actually greater than the ROI on sales incentives (134%). Incentive and recognition programs are one of the most effective ways for companies to create a great place to work and to build a culture of high morale, performance, recognition and improvement. Incentive programs meet the market demand for a more effective way to streamline internal communication of company objectives. The best way to get every company employee on the same page is through a common Web-based experience that tracks her performance against pre-determined objectives. When there are many separate incentive programs within an organization, there is poor accountability to ROI and overall success. Many companies are using software to successfully manage enterprisewide incentive programs.
ISSN:1529-9465