The Tribune

By Ian Ferguson

Research has long indicated that incentives work. Teachers, school administrators, leading company executives, politicians and many others in leadership roles have discovered that providing positive reinforcement, whether tangible or intangible, secures a higher degree of satisfaction for those they serve.

What the research also indicates is that the rewards and benefits derived from incentives far outweigh the cost of providing the incentive. In fact, the rewards to wise companies investing in incentives include satisfied employees; low staff turnover; satisfied customers; less employee theft; a solid company reputation and brand; high staff morale and, ultimately, greater productivity and efficiency.

Yet talent management professionals around the world all agree that companies must exercise extreme caution when employing incentive programmes, as one that is chaotically administered can do more harm than good.

Our discussion today encourages businesses to this year engage in employee-based incentive programmes that will ultimately make their companies more viable, and employees healthier and happier. Here is a brief list of suggestions:

Introduction of an Employee Fitness Centre:

This provides dual benefits to the company and employee, as it offers a healthy lifestyle alternative while demonstrating to employees that the company values their health and well-being.

Any available space can easily be outfitted with used work-out equipment, either from partnering fitness centres or employees with workout apparatus not in active use. Nutrition plans, 100-day challenges, health talks and seminars can certainly accompany this gesture of goodwill to the employee, and will be viewed as a positive step towards internal customer care.

Introduction of Employee Child Care Centre:

Large number of employees struggle with identifying day care and after school facilities for their children. Many mothers are forced to leave their children unsupervised for hours as they struggle to earn a living for their families.

A room and an additional one or two team members, with fun, educational and instructional material, can alleviate much of the burden placed on parents and will ensure grateful and loyal employees.

Introduction of Bonus for High Performance:

Most employees will tell their employers: MONEY MATTERS. I do not support, however, the awarding of salary increases or increments where employees have not demonstrated increased value to their organisations.

With that being said, once a systematic and strategic performance management system has been introduced, and it can be easily and scientifically determined which employees exceed standard expectations, some tangible form of appreciation should be given to those team members.

Most companies should begin to look into introducing a commission base pay to further encourage team members to strive for more. This motivation, if properly managed, can reap great benefits for both the staff and company.

• NB: Ian R. Ferguson is a talent management and organisational development consultant, having worked in both the public and private sector locally and regionally providing interventions and solutions for promoting business and service excellence. He was educated at the College of the Bahamas, the University of the West Indies, St. Johns University and holds a Masters of Science Degree from the University of Miami.