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Tag: Pay for performance

Rewards and Incentives – A Novel Approach

Rewards and Incentives

Employee rewards and incentives are a way to recognise employees for doing a good job. These can take the form of vouchers, gifts, bonuses, and so on. Science is finding novel ways to structure rewards and incentive programmes to get the best bang for your buck. For example studies have found, if as a company

What is pay for performance, and does it work?

Pay for performance

Pay for performance is extra pay the employee receives when certain work goals, targets, piece rate items, or key performance measures are achieved. It is used as a motivational tool. For example: Increase revenue by 10% by end of financial year to receive $5,000 Pack 12 bottles of wine per box to receive a 10