The success of a business depends largely on the individuals it hires. Every member of the team should be adding value and driving the business forward.
It is important to hire like-minded individuals who share your goals and ambitions. However, even the most driven and ambitious people need motivation to produce astonishing results. As an employer, it is your job to not only create a great working environment for your employees, but to also provide motivation.
Performance based incentives are a great way to ensure your team produce the results your business requires. As well as rewarding individuals for their hard work and efforts, you are ensuring that every member of your team is contributing to the bottom line.
However, it is important to remember that for performance based incentives to work, they have to be achievable. A common mistake made by employers is to set the bar too high. Then, when the business is under stress or not performing well, they place the blame on their employees. This has a huge impact on motivation; reducing productiveness and leaving employees feeling stressed.
Allowing employees to take control of what they earn provides a great deal of motivation – encouraging employees to perform to the very best of their abilities and go that extra mile. It’s a winning circle – the better your employees perform, the better your business performs, and the more they get rewarded.