REWARDING PERFORMANCE
Incentive dos and don’ts
You don’t need to rush into overhauling your pay programmes just because the economy is slowing, according to a study by US human resources magazine Workforce.
The June 2001 edition features a series of case studies illustrating how companies — both large and small — are paying close attention to their reward and incentive plans to ensure that they really motivate employees:
| Company (nos. employees) | Business activity | Scheme |
| Lincoln Contractors Supply, Inc., Wisconsin (115) | Rents/sells construction equipment, tools, supplies. | Gives "points" to reward outstanding job performance. Points can be exchanged for merchandise, travel, or tickets for sporting events. |
| Behlen Manufacturing Co., Nebraska (1,400) | Manufacturer of livestock equipment, grain storage, building systems etc. | Offers cash incentives, gainsharing and profit sharing. Minimum $250 a month for best idea to improve safety and performance. |
| Nucor Corp., North Carolina (8,000) | Largest steel producer in US. | Pays much lower base pay and uses substantial cash bonuses as an incentive. |
Source: Adapted from "Incentives that really reward and motivate", by Susan J Marks, Workforce, June 2001.
Want to know more?
Title: "Incentives that really reward and motivate", by Susan J Marks, Workforce, June 2001.
Availability: Workforce is published monthly by ACC Communications Inc, 245 Fischer Avenue B-2, Costa Mesa, California CA 92626, USA. For subscription services, tel: 001 303 604 1464 (USA 800 444 6485). Or email the online editor Todd Raphael for more information . . . raphaelt@workforce.com
Take a look at the article online — see what you think . . . www.workforce.com/feature/00/07/65/