Influence of Incentives and Rewards on Employee performance
Benefits
Social
Intrinsic
Extrinsic
Improve individual performance or productivity
Improve overall employee productivity
Recognize staff contributions much better
Foster a sense of belonging among employees
Reduce staff turnover and improve retention
Autonomy
Recognition
Work and life balanced
Flexible schedule
Opportunities to grow in the company
What is a work incentive plan?
They are the ideal incentives according to the company and the type of employees, with the aim of motivating their workers to increase their production
Objective of the salary incentive plan
Motivate employees
Allow them to grow professionally
Increase productivity
Loyalty to the worker so that he does not go to another company
Attract new talented professionals
Example
Salary incentives from Moz and Mattel
"Paid time off" Moz offers them, as an incentive, a bonus of €2,000 to help with these expenses. Mattel, on the other hand, allows them to enjoy 16 hours off and paid to participate in their children's school events or other family activities.
commissions
bonuses
production units