A financial incentive program is a payment mechanism which is used to encourage productivity. They are designed to increase production while at the same time inspiring employee loyalty. They are typically given in addition to some kind of base salary, although this salary may be relatively low compared depending on the financial incentives available. Financial incentives not only help increase productivity but also create enthusiasm towards work while enhancing commitment
Today, many companies are offering their employees the perk of free food and drinks. Google, for example, offers sushi and fresh espresso. Google helped spark the idea of catered meals, and it has now spread to other Internet companies such as Facebook. Most of these companies go to local restaurants to provide catered lunches. Many non-tech companies are now trying to implement catered lunches and provide free food and drinks
Public recognition in the workforce can be a positive tool when used properly by employers. Public recognition is the acknowledgement of an employee’s effort or behaviour which has exceeded expectations and has had a significant impact on the company’s values and goals. Appreciation is a fundamental human need. Employees who are publically recognized by their employers for their hard work are happier and will continue to strive for excellence in
Training and skills development programs enable employees to either upgrade their current skill set or to learn entirely new skills. These training programs are usually offered by the organization employing an individual. However, depending on your jurisdiction, there may also be public programs set up to achieve the same objectives. In order to provide effective programs, an organization’s management must have a good understanding of the specific skills that the
Many companies are now offering travel perks as part of an employees’ benefits program. Airlines and Travel Agencies specifically have begun offering these kinds of programs. Travelzoo, for example, offers any employee who has worked for the company for over a year between $1500-$2000 as well as an extra three days’ vacation to take advantage of any travel deal they find. In return, all the employees need to do is