Success Elements: Performance Incentives

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Success Elements:

Performance Incentive Programs

Text Box: ELEMENTS OF A SUCCESSFUL PERFORMANCE INCENTIVE PROGRAM 1- The program should focus on short term goals and their achievement. 2- The participants should feel the rewards are achievable. 3- The participants need to feel they are in control of earning the rewards. 4- The shorter the reward delay, the more effort will be made to obtain the reward. 5- Avoid entitlements. 6- Reward substitutes can be used to increase the perceived frequency of the reward. 7- The reward should be based on individual achievement. 8- The tangible reward should come directly from you. 9- It is better for many to receive a small reward, than for a few to receive a big reward. 10- The value of earning the reward is enhanced by personal, peer and family involvement.

Recognition Ideas kConcepts