Marketing and incentive design consultant Paul Hebert says on his i2i-align.com blog that as companies roll out their incentive and reward programs for staff this year, it’s important for managers to beware of 10 common assumptions – because each of them is dead wrong:
1. What the boss thinks is a good incentive usually isn’t.
2. People can keep a 12-month goal in the forefront of their mind.
3. If the award is valuable enough, you don’t need to communicate and remind people of the opportunity.
4. A bigger award is better.
5. Top performers don’t need to be reminded of where they stand in the program.
6. Rewarding the top 10 per cent of employees will motivate the other 90 per cent.
7. Everyone likes travel as an award.
8. Millions of award choices are the best way to get everyone excited about the program.
9. If I only reward employees on incremental business they bring in, the program will pay for itself.
10. In this economy, simply keeping their job is incentive enough.