Employee Incentive Schemes to Boost Productivity

The truth about wages is that over time, no matter how high they are those who earn them seem to gradually adjust to them. It's not that employees consider themselves underpaid, unless of course they are. It's just that they become used to what they are making and the initial thrill of achieving a high wage, any wage for that matter seems to wear off.

The Good Old Cash Kick in the Seat Of the Pants

So this is where employee incentive schemes come in and bear in mind that all formulas of this type need not be monetary rewards. However; there is nothing like a good (cash kick) in the “seat of the pants” to get an employee or group of employees moving.

Carefully Planned Production Bonuses

Production bonuses are a no brainer. Simply figure out what your employees should be doing with regards to productivity, set the bar higher and offer a bonus for hitting that bar. Bear in mind though that bonus’s of this type must be managed carefully, lest they demoralize certain workers.

Group Production Bonuses

You see, if there are several ways to implement production bonuses. For instance you can implement group or individual bonuses of this type and each one has its pros and cons. With group production bonuses all employees must be motivated, willing participants lest the group be stuck with one or more employees who are riding on the other coattails.

Individual Employee Production Bonuses

Offer them on an individual basis and it may turn out to be only a select few “already productive” employees that are even taking part in them. Also if you set a certain goal that must be attained to receive a bonus of this type and those who make an effort yet don't reach that goal lose out on their efforts, they can become disenchanted.

The Benefit of Community Involvement

If you are a community based business you may want to consider sponsoring a company charity event or program of some type. It could be an arm of your company that does something like getting involved with charity fund raising or support efforts with a local Lions club, family crisis shelter or a similar organization.

Dont Forget Motivated Employee “Retention”

Productive and motivated employees can then be allowed join in on the “visible public” efforts of this company sponsored organization and thereby garner “social status” and “recognition” in their community. You get the combined effects of employee retention, in that they have to stay with your company to remain involved in their community and also you can most likely receive some type of charity tax deduction.

When’s the Last Time You Had a Company Picnic?

If an ice chest full of beer and soda pop and a smoking grill loaded with chicken and ribs is not your cup of tea then you may be underestimating the power of the company picnic as an employee motivation tool. Remember that employees who “play together stay together” and what’s the use of motivating employees if they are going to move to another firm once they become motivated?

The Old “Lunch with the Boss Trick” Costs Only the Price Of a Burger