What Are the Different Types of Employee Incentive Plans?

Employee incentive mechanism refers to the process of maximizing employees' commitment to organization and work through specific methods and management systems. Mainstream business management education such as EMBA and MBA have introduced methods for establishing employee incentive mechanisms.

Employee incentive mechanism

Employee incentive mechanism: yuán gng j lì j zhì

Demand level theory

Platform Option 1: Goal Incentive

Through the implementation of the target responsibility system, the company's economic indicators have been implemented layer by layer, each employee has both goals and pressure, generating a strong motivation to work hard to complete the task.

Platform Option 2: Demonstration Incentive

Positively influence employees through behavior demonstration and professionalism of supervisors at all levels.

Platform Option 3: Respect and Inspire

Respect the value orientation and independent personality of employees at all levels, especially the small people and ordinary employees of the enterprise, to achieve a kind of results that must be repaid.

Platform Option 4: Participation Incentive

Establish a system for employees to participate in management and make rational recommendations and

The vitality of the company stems from the enthusiasm and creativity of each employee. Due to the diversity of human needs, the multi-layered nature, and the complexity of motivation, there should be multiple ways to motivate people.

Comprehensive use of various motivational incentives to make all employees enthusiastic, creative, and corporate

1. Pure material incentives can be

If employees can be paid enough, they will of course be willing to take up any work; if they are certain of their work, supplemented by a certain bonus incentive, employees will be very happy (unless they had higher expectations for the bonus ). When pay increases, employees do work harder. But according to a survey conducted by Burt Consulting in 2004, material incentives can only bring short-term happiness. After half a year, this motivation will gradually disappear. Not only do employees not be as excited as when they just got the bonus, they can't even remember the specific amount of bonus. This is because money alone does not have a continuous stimulating effect on a person.

A sense of identity and affirmation of personal status can generate a steady stream of motivation. Suppose that in a high-tech product sales company, a salesperson performed better than others, and the boss publicly awarded him a bonus. Every employee knows who the winner of the sales award is, and this salesperson thinks that he has been affirmed by the customer and recognized by other colleagues in the team. Identity and position in the team are the two keys to motivating employees, and money at best can only cheer employees in the short term.

So what do you do as a manager? A sound mechanism should be established to allow employees to achieve a certain degree of accomplishment. Give them a sense of identity and make them work well. At the same time, give them opportunities for improvement and room for improvement. Employees will cherish these opportunities.

2. Keeping employees happy can lead to higher productivity

Managers often spare no effort to implement some measures to keep employees happy. For example, set up a recreation room or allow employees to make long-distance calls for free. Managers wishfully think that the joy of employees during work breaks can easily be transformed into a motivation for work.

The employees really enjoyed their breaks and looked forward to this moment. Some even delayed work. But satisfaction at these moments does not necessarily translate into higher productivity, nor does it mean better performance at work.

3. Ignore the conflict and everything is fine

Few people like conflict, especially in the workplace. Bosses and employees almost have these two mentalities-"Let's just forget it" and "Open one eye and close one eye", and everyone lacks a problem-solving attitude. Management often cares about whether they are welcome, rather than quickly pointing out the actual problems of employees. But if you ignore some of the shortcomings of employees, in the long run, it will be unfavorable for their growth.

4.Some people are hopeless

Prejudice against some employees and total loss of confidence in them-this is the most common misunderstanding. In fact, everyone is a plastic, but the kind of flame that ignites their passion is different. If a manager visits the entire office and sees employees playing computer games or sending private emails, he may decide in his heart: "This person is not motivated to work because he is not serious at all." Actually, otherwise, these seem The "playing" employees are equally full of passion, even more motivated than those who are working hard. It's just that they don't devote their energy directly to their work.

If this employee has merit, then the business leader should find tips to stimulate their enthusiasm for work, and try their best to let them release their passion at work.

5.Drums don't need heavy hammers

American society places special emphasis on smart people. Almost every business owner is eager to attract smart people to join, because these people learn faster and get started quickly. As a result, the bosses took it for granted that these people didn't need to bother, they would discipline themselves.

However, there is no necessary connection between high IQ and good self-management ability. Not only that, but some smart employees often don't know their motivation to maintain their enthusiasm for work. Instead, they are more likely to lose themselves or get tired of work, which ultimately leads to little interest and inefficiency in the work.

So how to mobilize employees? Smart bosses should understand how to create a good working atmosphere so that each employee is full of vitality; at the same time, understand the "power valves" of employees, know their advantages and points of interest, and make the best of everyone, so that everyone is in their favorite Glowing hair on the post. ^[1]

Talent model

Incentive measures

Type I talents: High enthusiasm and high ability

This is the most outstanding talent in the enterprise.

The basic countermeasure is reuse: empower these talents and give them more responsibilities.

Type talents: low enthusiasm and high ability

This type of talent generally has no clear goals for their position and future.

There are different directions for this kind of talent:

(1) Salvation.

Continuous encouragement and continuous encouragement, on the one hand, affirm their ability and trust, and on the other hand, give specific goals and requirements.

-Properly stimulate compensation when necessary.

In particular, we must prevent the grievances and dissatisfaction of these talents who are not pregnant, and communicate with them in a timely manner.

(2) Do not stay sex.

If it is difficult to integrate into the corporate culture and management mode, simply dismiss as soon as possible.

Type III talents: high enthusiasm, low ability

This is the more common one, especially for young people and new hires.

Make full use of the enthusiasm of employees and timely and systematically train them.

Propose specific requirements and specific methods for improving work capacity.

Adjust employees to their most suitable positions or positions.

Talent: Low enthusiasm and low ability

There are different directions for this kind of talent:

(1) Limited role.

Don't lose confidence in them, but control the time spent and only conduct small-scale training.

First stimulate their enthusiasm for work, change their work attitude, and then arrange for a suitable position.

(2) Dismissal.

(1) Change the concept of incentive mechanism and establish a "people-oriented" employee incentive mechanism

In order to enhance the competitiveness of enterprises, enterprises must change the traditional motivation concept. To construct the incentive mechanism of enterprise employees, it is necessary to change the incentive concept and establish a "people-oriented" incentive mechanism. If we truly care about people, respect them, create all kinds of conditions, and promote the all-round development of people, we can quickly get the incentive system on the right track. Through analysis of different types of people, sort and classify their needs, collect information related to incentives, comprehensively understand the needs of employees and the quality of work, and continuously formulate corresponding policies based on changes in the situation and have Targeted motivation. On the basis of extensively soliciting opinions from employees, we must introduce a set of scientific, fair, reasonable, transparent, and effective incentive mechanisms recognized by most people, so that employees can demonstrate their talents in an open and fair environment and inspire employees Competitive consciousness and give full play to human potential. Maximize the motivation of employees. After the incentive mechanism is established, it must be perfected

Feelings mean appreciation and trust. Leaders should not jealous of your trust and praise, especially in public places. Spiritual motivation will always motivate the positive nerves of the subordinates. At the same time, the company and the private must be separated.
The core of evangelism is that self-teaching is more important than word. The mentoring belt is not always going to be carried on by yourself. Leaders need guidance when there is a new job or a time period with a meaningful meaning. The leader's character and style directly affect your employees.

Training plays an important role in motivation. Training is especially attractive to those who are young and growing, and "enjoying training is the best reward" makes sense.

The reward is to spend money on the blade. In the past, awards had roots and punishments. The rewards included material rewards and promotion rewards. The rewards must not be too casual. The rewards must be released.

Punishment is a must. Do not discount it in the face of human sentiment. The value of the penalty will never increase. Penalties are not just ruthless. As long as they are bold and innovative, punishments can become as motivating as positive praise, such as changing the punishment list to a training list.

Competition is to create an atmosphere of comparison, learning, rushing, helping, and super. As a leader, he must learn to create a competitive atmosphere among his subordinates, and set goals and rewards and punishments at various stages. Leaders must always guide healthy competition, not competition that allows employees to compare.

Justice is the charisma of a leader. Leaders need to create a fair and fair environment for your subordinates, so that they have a sense of security, and feel that following such leadership will not suffer, in order to maintain a reasonable and stable distribution of competition and distribution according to work.

The meaning of empowerment is encouragement and trust. Excellent subordinates need a suitable stage. The new president of the three companies, Wu Handan, famously said, "If you are a tiger, you will keep it to the mountain, and if you are a monkey, you will hold it to the tree." And the authorization must be based on open procedures and systems. Better not give.