Question

Individual incentives are one (1) way to reward employees for their performance. If your current position offers incentives, explain what type of incentives you can receive and how it helps performance. If your current position does not offer incentives, do you believe your company or organization needs to add incentives? Explain why or why not.

Answer 1

Employee performance management systems is a vital component of a HR function. Using performance assessment the deserving candidates get more exposure, higher positions and better compensation benefits. For an employee, one of the motivations he might have to work better is when appropriate incentives are provided. As mentioned in the case, individual incentives are one of the several methods to reward and employee for the work they have been doing the whole year. It shows a gratitude from the employer than in addition to the routine jobs, the employee as gone further in providing additional benefits to the organization.

If a position in organization already provide an incentive scheme to the employee to reward his good work, then there are other way to reward him. Few of them are:

• Provide flexibility in working hours

• Give better and high risk projects

• Build a culture of reward mechanism using awards and recognition

• Give encouragement letters/mail with all major stakeholders in the loop

• Give off days and benefits to family

• Provide assistance in their personal hobbies and platform for them to share it

If the position provides incentives it can either be from few mentioned above or in form of monetary benefits. They can include:

• Few month`s salary clubbed together

• An higher increment in their annual pay scale

• Stock options of the company

It has become a cardinal rule that every organization that is focused on the building a good working culture should provide appropriate incentives for hard working deserving employees. If the position does not offer such incentives, then the HR team should start practicing such initiatives. It can increase the morale, boost motivation, improves the working environment and bring a change in culture which increases opportunities for new prospective employees.