Taking your first steps in the world of Employee Incentives….
Whether you are a seasoned HR Professional or a relative newcomer to the world of Total Rewards, the decision to create an incentives programme can be a daunting task. First you must decide who should participate, and what proportion of their pay should be “at risk”. Next you must set goals and targets. If these are too easy, you will be accused of wasting company money. Too difficult, and you will end up with a disillusioned workforce who will be switched off if they fall by the wayside in their efforts to hit their targets.
In this discussion, given by Alan Gibbons at Cambridge University, some of the simple but vital rules for incentive design are set out in simple language to give you confidence in getting it right first time.