Incentives that Supervisors Use to Promote Motivation in Their Employees and Positive Performance
Incentive compensation has been one of the most actively studied topics in economics, accounting and management research in the past two decades. Designing an effective incentive plan will always require judgment and understanding of individual circumstances. Motivating employees is key to positive performance. If an employee feels bored, not challenged and not stimulated, their performance inevitably suffers. A well-run incentive program can help make an organization more effective and attractive by encouraging and rewarding an organization 's most important resource, heir employees. By providing incentives that are meaningful and appropriate, an organization is supporting these people and showing them that the company recognizes just how valuable they are. To foster the implementation of new practices or practices to stimulate positive output amongst staff, incentive compensation is widely used as a viable motivator. Incentives are necessary to improve morale amongst employees and a supervisory accolade has been proven to go along way. Incentives increase the productivity and if it is understood that increased productivity gets fairly rewarded, then people will do their best to be productive and to remain with the organization. Tasks that are rewarded get completed which is pretty much a blanket philosophy.
A healthy incentive program allows an organization to maintain staff and potentially attract new staff with the hopes that new employees could also be eligible for the same rewards being given. Incentives eliminate favoritism, incentives do not promote partiality and they provide a comfort level stating that if one’s job is done to satisfaction, then awards will await them.
There are many alternatives that an organization can offer to their staff. A primary classification of an incentive could be translated to a monetary reward which is
Bibliography: Bowen Brayton R. Recognizing and Regarding Employees, June 28, 2000 (R, 2000) Mc-Graw Hill, New York Colan L. Engaging the Hearts and Minds of all your employees: How to Ignite Passionate Performance for Better Business August 15, 2008 (L, 2008) Mc-Graw Hill, New York http://www.youtube.com/results?search_query=motivating+and+rewarding+employees+&oq=rewarding+e&gs_l=youtube.1.2.0l2j0i5.139.2767.0.47188.8.131.52.184.108.40.2066.1827.3j3j1j3.10.0...0.0...1ac.1.11.youtube.LgZHuv0v2DQ http://www.youtube.com/user/Easysmallbusinesshr?feature=watch