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By definition, an incentive is a “reward for
extra effort.” If the reward happens to be, “more pay for more
work,” then we call it a wage incentive plan. There are many incentive
plans suitable for direct labor personnel, supervisory personnel, office
personnel, as well as plans for groups of employees. Profit sharing is a
form of wage incentive. Then there's the Merit Pay plan that pays for more
that just production. To be successful, any incentive plan should be
designed around a company’s needs.
As
empowerment suggests, production is not the only thing needed from
workers and workers have psychic wants and needs that go far beyond just
money. This Wage Incentive's eBook contains a potpourri of incentive
plans that you can review and tailor to your company's wants and needs.
This
eBook provides the wisdom, ideas, suggestions and tools to bring you
up-to-date on today's most successful approaches to wage incentives.
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