Planning For A Better 2005? Think About Your Incentive Programs
by Michael Fox
Because they may not be carrying the kick you had hoped for. At least that is the overall conclusion of the article, Incentive programs fall short with employees, survey finds at HR News. One sobering statistic, "55 percent of employees are unhappy with their company?s incentive programs." Part of the problem seems to be a lack of information (what a novel thought!) since employees who got weekly information about the progress of an incentive program were twice as likely to say they were content with the program as opposed to employees who heard about it only at the kickoff.
There are all kinds of issues related to incentive programs, from employees beginning to think of them as part of their regular (hence 'guaranteed') income to financial goals not being hit because of macro-economic issues that are really outside the control of the individuals. Maybe something to think about as you start considering all the things you will do better in 2005.