FAQ#1 "How can I best set goals for my employee incentiveprogram?"Q. What are the best ways to set goals for my incentive ...
Does the achievements of your team warrant employee appreciation awards? Is retaining your valued employees ahigh priority...
CLEAR AND EXACT. Choose just one or two clearly focused goals, so program participants can channel their effortseffectivel...
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FAQ#1 "How can I best set goals for my employee incentive program?"

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Your first step is to understand is that sincere recognition, regular engagement and motivation are the best ingredients in creating a more positive behavior from staff members and employees. Its more than just compensation. This, in turn, will impact your organization's performance.

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FAQ#1 "How can I best set goals for my employee incentive program?"

  1. 1. FAQ#1 "How can I best set goals for my employee incentiveprogram?"Q. What are the best ways to set goals for my incentive program?A. Its NOT a guessing game!Your first step is to understand is that sincere recognition, regular engagement and motivation are the bestingredients in creating a more positive behavior from staff members and employees. Its more than justcompensation. This, in turn, will impact your organizations performance.Incentive programs must be designed with knowledge of the different age groups/generations that work for you. ageThis can be especially important with your service awards initiatives. Your rewards strategy should clearly honor andacknowledge employee efforts and achievements. Developing an effective incentive plan can be as individualized asyour organizations culture. In choosing your recognition and rewards approach consider what motivates employeesto excel.When asked, most employees will suggest to you they want cash but research shows cash is not an effecti reward effectivebecause it has no "trophy value". Case studies show that giving cash doesnt work and ultimately becomes a waste ofcompany resources. Giving cash may also have negative tax implications. (Check with your tax expert.) When you areready to set your performance goals here are some specific steps you will find helpful.The first excellent action to take is to determine your Performance Criteria. Performance Criteria are simply theareas within your company you want to improve upon. What are some performance criteria? In actuality they caninclude any area that you deem worthy of improvement. Better attendance, increase employee retention, improvewellness programs, more sales, better customer service, safety etc. Next is to determine what guidelines or rules doyou have in place to judge the quality and level of these improvements. eShare This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845 845-228-GIFT (4438) :: fax: 845- -228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.
  2. 2. Does the achievements of your team warrant employee appreciation awards? Is retaining your valued employees ahigh priority? Do you want to improve your service awards programs?Although many organizations understand the importance of soliciting the assistance of a p professional incentiveexpert, beginning this process can start with an in in-organization mini-brainstorm session involving colleagues or a brainstormselect group. Select participants who can bring a fresh perspective and knowledge of current conditions in themarketplace and your target audience.Make your ideas/goals session a fun event. Have a pizza lunch with your goals team. Go out to dinner and passaround the hat for your participants to throw in their ideas. Optimize your efforts by keeping it upbeat for every everyone.As you attempt to identify your objectives, keep in mind the importance of linking them to market conditions andyour company’s overall goals.One example might be improving your sales forces product knowledge level. In todays competitive environmentmaking sure your team has great knowledge about your products or services will dramatically improve sales. dramaticallyAs you start to form specific objectives, make sure they are workable. Compile a list of the suggestions you receiveand at some point share your improvement goals with other managers and employees. It could prove veryproductive to also ask all employees for their ideas. Your workforce will be enthusiastic about your goals if they feel ovalued and an intregal part of the process. Any employee ideas you implement should be recognized andrewarded.Remember that achieving your performance criteria goals must measurably increase your organization’s value orROI. So again, the help of an incentive expert will go a long way toward saving you considerable time, money and willstress.As you start to form specific objectives and areas for improvement make sure they are workable.Make sure your goals have some of these characteristics that will make them more effecti effective.They should be:Share This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845 845-228-GIFT (4438) :: fax: 845- -228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.
  3. 3. CLEAR AND EXACT. Choose just one or two clearly focused goals, so program participants can channel their effortseffectively. For example, instead of saying, “Improve safety,” state your goal as “Reduce accidents by 30% percentbetween specific dates such as: November 2012 to July 2013.” The same for any other performance criteria you mayhave decided on. Instead of saying, "Improving attendance" set your goal for 100% attendance and reward this.TRACKABLE RESULTS. Be sure your goals involve quantifiable activities that can be measured easily. Implementing auser friendly, point based, on-line program can make this easier and provide trackable ROI. As an example, some lineways to quantify success include tracking a salesperson’s progress by measuring the increase in sales or profits.REACHABLE ACHIEVABLE GOALS. It is tempting to set the bar high, hoping to achieve dramatic improvements andexcite everyone in the process. Overly ambitious goals however can backfire and seem unattainable to the nparticipants in the program thus demoralizing them.To create realistic goals, take past history and preset conditions into account. Step by step goals work best!RELATABLE. To be meaningful and have a long lasting impact, the goals you set should fit within the overall ABLE.objectives of your company. This means checking that your goals are in step with your company’s direction. Iscutting costs a priority? Or is the company investing resources in the hope of achieving long long-term growth andcompetitiveness?GOOD TIMING. Take into consideration any seasonal highs and lows that occur in your business during the periodchosen for the incentive. Example might including a company Holiday trip or related award. HolidayConsider too, some of the hidden factors that will engage and motivate your people to do their best. Placing a heavyemphasis on sincere recognition and again be aware of the generation differences in your company. Determin Determinewhich incentives work best for the different age groups in your company. What will they find most motivating tothem. Stay away from cash rewards they have no trophy value and are quickly forgotten by the recipient. Ask foremployee ideas on recognition and service award events and create a list. Maybe company or department parties,informal lunches etc.TIMED. Take into consideration any seasonal highs and lows that occur in your business during the period chosen forthe incentive.Share This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845 845-228-GIFT (4438) :: fax: 845- -228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.

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