Non-cash incentive programs and fringe benefits can have a powerful influence on attitudes, which should in turn improve results. You can give employees the greatest incentive program, but by impairing a sense of ownership in the organization.
If you dont know what kind of incentive programs to employ so as to motivate your people to work and increase productivity, here are some tips that you can use:
1. Sharing the shares.
Use share schemes as an incentive program to reward people for contributing to team success.
An employee who sees his or her efforts rewarded in company shares will, in theory, identify with the company, be committed to its success, and perform more effectively.
In reality, it may be hard to tell whether the companys success is due to employees owning shares, or whether the success itself has led the company to issue shares. It is also difficult to know whether employees would have performed less effectively if no shares had changed hands.
Nevertheless, by giving people a stake in the company as an incentive program, you are making a highly positive statement about them, which encourages them to feel positive...
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