- Remember that there isn't a "one" best way.
- There is no program that will make everyone happy.
- There is no program that will serve your needs forever because the market, your business, and your people are constantly changing.
The first questions you should ask yourself are:
- Is your culture already supporting an incentive program?
- What truly incentivizes your people? Higher base with modest incentive or lower base with higher incentive compensation? Or some other type of reward? Don’t just listen to what they say, observe how they act.
- What is the company really trying to accomplish with this incentive program?
- What behaviors will this program drive if things are going bad?
In most cases, change the program slowly and help it evolve over time. Typically, short-term incentives provide short-term results.
Ask yourself this one question before making any changes: Does the program need to change or does understanding need to be increased through education?
This is Part 13 of a 20-Part Series
Topics Covered in the Series Include:
- Who Benefits?
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