Available from Fox Lawson & Associates, a Division of GBS
Choosing the proper employee incentive and reward program for a business is an acquired skill that takes years to learn how to do properly. However, it's an important skill to learn, as employee incentive and rewards programs are essential to remaining competitive in a thriving professional market. Employees need more than just a professional or executive salary and a 401K to stay with a company. They need to feel appreciated and valued, they need motivation, they need new challenges and they need the right incentives and rewards to keep them striving to reach new heights. Today's business professionals are working for far more than a pay check--they are working for self-actualization.
Rather than spend the time and manpower necessary to learn the fine art of designing employee incentive programs, many companies are hiring compensation consultants. Compensation consultants are experts at putting together pay and non-pay incentive programs that will be of the most benefit to each individual company. No two incentive programs are the same, due to the highly variable nature of corporate culture. Compensation consultants recognize this and work within each company's strengths, weaknesses, budgets and business plans to create a solid program. When the right program is in place, performance among employees is usually enhanced. Improved performance, in turn, results in better outcomes for the business as a whole.