Come by with Staff Recognition Programs
Staff recognition programs play a vital job in any company’s incentive strategy which aims to address motivation in the workforce. Yet, to convey results, these programs have to be comprehensive. They should involve the whole company and incorporate the company’s goals into their specific goals. The best ones, in fact, also have the company culture in mind. These goals, from the company’s general mission to the more specific target figures for a specific period, should all be aligned.
As you sit down to plan the incentive program, it is important to realize that there are several kinds or formats of incentive programs that you should consider choosing from.
There are four categories or kinds of staff recognition program according to A Review of the Effects of Financial Incentives on Performance in Laboratory Tasks: Implications for Management Accounting, an article that appeared in the Journal of Management and was in turn referred to by the study Incentives, Motivation and Workplace Performance: Research and Best Practices.
The four kinds are piece-rate programs, quota based programs, fixed rate programs, and tournament type programs. Piece-rate incentive programs reward participants for increasing the performance rate. Simply put, this is a reward for doing a greater amount of specific task. Quota-based programs, then again, give rewards for those who reach or surpass a specific goal. Fixed rate programs hand out compensation that is salary-based – this means specific pay out as an end-result of doing a specific, assigned task. A tournament kind of incentive program is one that has teams or individual members going toward each other for the incentive.
Executing the Program
After determining the kind of incentive program that you are going to actualize, it is an ideal opportunity to do some implementing. Appropriate execution of the incentive program is vital to its success. Here are some tips that may help:
- Communicate viably across the whole company. You should have the option to tell employees that about the goals of the incentive program and how they align with the goals of the company. Aside from that, you should have the option to emphasize that the reward program is fair, consistent, objective and transparent; the results are determined by fair rules that are applied consistently, not by favoritism or the whims of management.
- You should have the option to clearly express the mechanics of the reward program. To make this task easier, audit the rules. They should be clear, straightforward and not complicated at all. Expel any part of the mechanics that could lead to complications and just simplify.
- The goals of the reward program should be measurable and specific. This helps keep the whole process objective, consistent and transparent.