Hello, read.cash friends!
A few years ago, I was a so-called corporate slave. I work nine hours a day, five times a week.
Typical worker. My work is very redundant and sometimes bore me. I love my coworkers, though. It lightens my day whenever we chat, just talk about life and hassles of every day.
In my company, they offer incentive programs based on the worker's performance and being tenured on the company.
I was a newbie in the workplace and of course, didn't qualify. After two years, I quit the job because it's not making me creative anymore.
I'm just like a robot following repetitive instructions. That's when I decided to enroll in a master's degree.
During my schooling, we conducted surveys and research. One of the topics is incentive programs, so in this article, I will be discussing our findings.
Incentive Programs As Motivators
A well-built incentive program motivates employees to accomplish organizational objectives by rewarding them in ways beyond just salary.
For example, offering employees a commission on the sales they make pushes them to maintain high sales revenue, benefiting employees and the business as a whole.
But incentive programs also introduce a host of ethical issues that businesses must consider.
Effective employee reward systems can significantly increase work performance. They can motivate employees to increase their work quality and quantity and to align their performance with organizational objectives.
They can therefore be a very powerful influence on employee behavior, motivation, and performance and should be an integral component in any company strategy.
The impact of employee rewards programs in the workplace can be significant.
In an analysis of 437 companies, those with rewards programs had greater employee productivity, higher profits, better cash flow, stronger stock market performance, and a greater stock value than companies without rewards systems.
In general, reward systems have a positive effect not only on employee performance but company performance as well.
However, not all reward programs are effective.
Ineffective reward systems can decrease employee motivation, increase skepticism and contribute to the opposition in the workplace.
Thus, managers should understand what constitutes an effective reward system, what behaviors to reward, when to reward, and how to shape employee behavior using rewards.
Base on the results, The impact of an incentive program in the workplace is significant.
In the analysis of 50 employees, it is evident that there is an increase in productivity, but not all.
As a manager, incentive programs can motivate employees to increase their work quality and quantity and to align their performance with organizational objectives.
They can therefore be a very powerful influence on employee behavior, motivation, and performance and should be an integral component in any company strategy.
However, not all incentive program is effective to all employees. Ineffective reward systems can decrease employee motivation, increase skepticism and contribute to the opposition in the workplace.
Thus, managers should understand what constitutes an effective reward system, what behaviors to reward, when to reward, and how to shape employee behavior using rewards.