Post on 29-Jan-2015
description
Incentive Programs
4/28/2014 1 ITFT College, Chandigarh
Introduction
• Employee Incentive Programs reward exceptional employees for reaching work goals, achieving milestones or simply doing a good job.
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Advantages • Mutual Rewards
4/28/2014 3 ITFT College, Chandigarh
• Increased motivation
4/28/2014 4 ITFT College, Chandigarh
• Increased company morale
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• Increased productivity
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• Reduced company costs
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• Team Work
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Individual incentives: Types • Sales commission
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• Bonus
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• Merit pay
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Group Incentive Plan
• Profit sharing
• Employee Stock Ownership Plan (ESOP):
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Voluntary Benefits • Hazard pay
• Health insurance
• Paid holidays
• Pay raise
• Disability
• Employee Services
• Relocation Benefits
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Retirement Plans
• Social Security,
• pension plans
• individual savings.
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4/28/2014 15 ITFT College, Chandigarh