What suggestions would you give if an incentive scheme fails?
What suggestions would you give if an incentive scheme fails?
There are certain reasons for an incentive scheme to fail.
-Lack of transparency amongst the employees regarding the scheme or jealousy amongst the employees for unequal distribution of the incentives.
-Violation of company rules by the employees to complete their targets in order to earn more incentives. More specifically, it can result into financial loss to the Company.
-The management should therefore make a clear understanding of the incentive schemes to the employees.
-The employees should also be made aware that the scheme is designed on the basis of the work profile of the employees & will be judged on the basis of the performance & hence the amount can differ so that there is no jealousy amongst them.
-The team leaders should supervise the performance of the employees & encourage them to perform better.