WHAT’S NEW AT OPTIMUM
As a small business owner, you’ll often receive requests for raises from your staff. Maybe you have employees go directly to their managers for the salary discussion, or perhaps you handle it yourself as part of an annual review.
Employee incentives, the rewarding of work performance, loyalty, innovative ideas, and sales excellence, are used by more than half of American companies, according to the Incentive Research Foundation. And while incentives such as trips, awards, and cash might kickstart staff excitement and productivity in the short term, research has found that producing lasting change in employee behavior doesn’t come so easy, and in fact, once the incentives are removed, employees will go back to doing things the way they always have in the past.
That’s because long-term change will come from employees that have passion for their work and want to improve the company because they want to. Arguably, matching staff skills to the appropriate jobs and providing regular opportunities for keeping employees engaged is probably more likely to get results than any type of pay-for-performance incentive program. […]