The Carrot Principle, the latest book by Adrian Gostick and Chester Elton, summarizes one of the largest studies ever conducted on employee recognition in the workplace. Gostick and Elton surveyed 200,000 employees over 10 years to come to some very enlightening conclusions on employee recognition and its larger implications for a company's bottom line.
If you can justify the cost of a new technology system, a new software solution, or a new service for employees by demonstrating that the outlay of budget dollars and Human Resources will result in a significant return on investment (ROI), you may solidify the likelihood of your request being approved. Once a new venture or service is approved, finding ways to measure the outcome on an ongoing basis is also critical in order to attain and maintain corporate support for the project.
When creativity and innovation are the mainstays of a business, it follows that the company would have a unique work culture and extraordinary employee recognition and appreciation practices as well.
Tiered profit sharing plans can do double duty for your company, says Baylis Resnick, vice president and senior pension consultant at Polycomp. Not only is a tiered profit sharing plan a tried-and-true employee benefit, it can also be used as a compensation tool.
The vast majority of companies executive compensation is not "out of control," as everyone would be led to believe. The link between executive pay and firm performance can clearly be strengthened, which is the real issue. What needs to be done to improve this linkage and restore public confidence?
While it may seem obvious, the SEC proposal does not intend to, nor will it,
reduce executive compensation, says Charles Peck, a compensation specialist at The Conference Board.
Team-based incentive programs sound, at least in theory, like the perfect solution for the organization that wants to foster teamwork among its employees. Why, then, have so many companies run into problems that range from getting everyone to agree on what teamwork actually means to deciding how rewards will be distributed among team members?
IT has become the most critical component to every business sector in the 21st century. Whether you sell retail merchandise or insurance, or own a construction company, the formula for success lies greatly on the efficiencies of this department.
Businesses that want to boost sales should have a well-designed sales compensation plan that motives employees effectively and ensure it mirrors the culture of their organization, according to two experts who recently presented a BLR audio conference.
