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Read our article on no and low-cost incentive ideas here. You want to create rewards that your employees will be excited to receive.
Again, these do not always have to be monetary rewards — this is time to put your creative hat on and see what different kinds of incentives you can come up with that will get your team excited and motivated!
Why establish incentive plans? There are numerous advantages associated with encouraging your staff through the use of incentives.
For incentive plans to work, it is critical to reward employees for achieving quantifiable results that are within their control.
Establish performance goals that are attainable with hard work, but no too easily achieved. How should you communicate these goals and the incentives to your team?
Download our monthly team meeting slide deck here to get you started. The approach you take should reflect your unique needs and management philosophy.
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Updated: August 24, Freedom Mobile. However, each case needs to be assessed individually since the particular circumstances could entail a longer notice entitlement.
It is not sufficient to simply provide the employee with a copy of the new bonus plan or other new terms. As a best practice, employers should do the following:.
Employers should also keep in mind that valid consideration must be given for new contractual terms to be enforceable. Apart from enforceability issues, employers should proceed with caution when contemplating changes to bonus plans since such changes can constitute constructive dismissal.
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