[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.5.7″ hover_enabled=”0″]How do you create an employee incentive program that is win-win for you and your team? Employers usually default to a dollar-based incentive comp program thinking, “Surely these employees will be motivated to improve safety/sales/productivity if they can earn more money!” More money, I’m sad to report, is rarely the right answer.
Watch our blog this week as Wayne reveals the very best incentive program for guaranteeing employee motivation, productivity, and engagement.
We’d love to hear about what big- or small-scale incentive programs have worked for you. Please share your thoughts with us in the comments. Thank you!
Also, the early bird pricing for next two cohorts of the Contractor Business Boot Camp ends soon. Please get in touch with Charlotte Kopp at ckopp@familybusinessinstitute.com for more information about the program and how to enroll. Thanks!
[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_button button_url=”https://www.familybusinessinstitute.com/wp-content/uploads/2019/12/Blog_Transcript_The_Best_Incentive_Program_04December2019.pdf” url_new_window=”on” button_text=”Click here to Download Transcript” _builder_version=”3.16″ button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section]
David Helms says:
Wayne: Speaking of incentives, I would love to hear what you may have to say regarding the “Social Score” program in China and what the long term results and ultimate unintended consequences will be. The government has effectively instituted an incentives / punishment program based on what the government sees as desirable behaviors. This is a little off topic but may have some parallel valued in understanding behavior in general.
Wayne Rivers says:
I have a great many thoughts on the evils of this concept, David, but I don’t think my parent company would want me to make my political views a part of our blogs! Good idea for you or other bloggers, however!
Mike Cochran says:
Wayne,
Well said, but disappointed….(and I was so pumped to click on your blog to finally find the answer and Holy Grail of employee engagement!). I too struggle with this topic, but have never heard of this principle until now.
But agree, it does come down to culture. Leadership, hiring the right personnel for the right positions in your business… adding that rewarding those movers and shakers within your organization is the best start of a good culture. You hope to inspire those around them in their growth and career paths as well.
Wayne Rivers says:
I knew many of you would be disappointed, but we have to face reality: there is no easy magic bullet! Good thoughts, Mike. Thanks for commenting!
Paul Crow says:
Nailed it! Excellent vlog Wayne! “Incentives me, Culture us!”
Wayne Rivers says:
Well said, Paul! Wish I had thought of it!
Danny Tezak says:
Wayne-
I believe you have summarized an often overlooked trait of any great company. I am with you and have researched numerous incentive based programs and have come to the conclusion that,in fact, they simply incentivize what is important at that point in time (safety, productivity, profitability, etc.). I believe that they are also difficult to maintain, so that they remain relevant.
The only dissenting opinion I would offer, is that today’s workforce wants “instant gratification” and that normally comes in the form of compensation of some sort. What the workforce sometimes does not understand is that usually a great company with a great culture is very successful and therefore the overall compensation and benefits will trend with the overall success of the entire company and is not tied to any specific metric. Building that culture and getting “buy in” is a long process, and it takes the right people in the right places to instill and maintain that culture for the long haul.
DON WOODRUFF says:
Amen Brother Wayne. However, having a solid culture, coupled with a monetary incentive plan that incentivizes the right things, is a way to share the “love” of profitability of which the employee can directly impact. Believing that the employee does better, the company does better, is a win-win philosophy.