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Variable Incentive Plan: A Motivation & Retention tool
This article explores the various categories of Incentives that can be applied to employees in different job roles and how HR can use this tool to motivate and retain employees across the entire company. Variable Incentive Plans are coming to the fore to retain high-performers and encourage achievement.
EMPLOYEE RETENTION
Finding good people is a significant challenge facing organizations. In a highly competitive environment, keeping good people can be just as difficult. The balance of power in the workplace has shifted dramatically in favor of employees. The recruitment and retention strategy most organizations choose is incentives. While an important and necessary step, it’s a short-term solution without long-term impact. Many organizations have reached a plateau where incentives are not making a significant difference. The struggle is, after you have taken appropriate steps to make sure incentive plans are competitive, what is the next step?
Sales Compensation Plans: Improve Your Plan to Boost Your Profitability
Everywhere I go, CEOs complain that their sales compensation plans don’t seem to work as well as they had hoped. A bad sales compensation plan effectively converts “pay-for-performance” into “pay-for-non-performance.” If your sales incentive plan doesn’t create a win-win-win-for you, your salesperson and the customer-it is bound to fail sooner or later. Here are six key features of a winning sales compensation plan.
Punished by rewards
Punishment and reward proceed from basically the same psychological model, one that conceives of motivation as nothing more than the manipulation of behavior. As part of my own development and in an attempt to keep my mind as open and fresh as possible, I take to reading all sorts of things. On my current reading list is a very interesting book called “Punished by Rewards” by Alfie Kohn, author, speaker and educator. He writes about the trouble with “gold stars, incentive plans, As, praise and other bribes”.
Sales Incentive Plans Drive Sales Behaviours
The behaviours of successful salespeople are considerably influenced by their incentive plans. This is reality and any salesperson claiming that they are not materially motivated is suspect. A salesperson with no desire for additional material gain is extremely unlikely to perform for your business.
Innovative Trends in Non-Profit Executive Compensation
Non-profit executives earning 50% more than in 2000 and receiving bonuses? See what's driving these trends and if they will continue on their climb.

Other incentive plans Related Articles

How to use incentive marketing effectively
Incentive marketing, simply put is a specific plan to get people to do what you want them to do. This could be employees or customers; you offer a reward of some kind for performing certain objectives. When we say incentive marketing however this usually refers to customers or clients. We want them to remain loyal to a brand, product or company, and so in order to do this we set up an incentive marketing strategy that will bring them back continuously.
What Are The Results of A Recent Poll?
In a recent poll eighty-eight percent of the people surveyed reported that they would rather win a travel incentive then a cash incentive. One possible reason for this is that once money is spent (normally it is used to pay outstanding bills) it’s gone. A trip is something that the whole family can enjoy. The stories of a memorable trip are stories that get told years later at family gatherings.

Sales Incentive Plans Drive Sales Behaviours
The behaviours of successful salespeople are considerably influenced by their incentive plans. This is reality and any salesperson claiming that they are not materially motivated is suspect. A salesperson with no desire for additional material gain is extremely unlikely to perform for your business.
Business Plans Don’t Last Forever
Business plans... you either love them or hate them. They are a beautiful thing when they create a unified focus and alignment across your company... And empower your team to go out and do what they must do to produce results. But fast-growing companies outgrow their business plans. Often, it is just a matter of time, because business plans don’t last forever! It’s highly likely you have outgrown your business plan when:
EMPLOYEE RETENTION
Finding good people is a significant challenge facing organizations. In a highly competitive environment, keeping good people can be just as difficult. The balance of power in the workplace has shifted dramatically in favor of employees. The recruitment and retention strategy most organizations choose is incentives. While an important and necessary step, it’s a short-term solution without long-term impact. Many organizations have reached a plateau where incentives are not making a significant difference. The struggle is, after you have taken appropriate steps to make sure incentive plans are competitive, what is the next step?
Punished by rewards
Punishment and reward proceed from basically the same psychological model, one that conceives of motivation as nothing more than the manipulation of behavior. As part of my own development and in an attempt to keep my mind as open and fresh as possible, I take to reading all sorts of things. On my current reading list is a very interesting book called “Punished by Rewards” by Alfie Kohn, author, speaker and educator. He writes about the trouble with “gold stars, incentive plans, As, praise and other bribes”.
Dealer Incentive Programs
You hear about them on the television all the time, mostly with cars, but not always. Still, what is a dealer incentive program and how could one possibly benefit you? To be perfectly honest, and I can be because I'm not selling you anything (wink) the term dealer incentive program is a little more broad than getting cash or prizes for buying something. In a very real sense a dealer incentive program can bolster sales, reduce sales costs, reward loyalty to your brand and help launch new products. From a pretty simplistic standpoint, let's look at all four of these.

Business Plans: Uses and Abuses
“Some men see things as they are and say "Why?". I dream of things that never were and say "Why not?" (George Bernard Shaw) Do you ever dream about business success and wonder how to make it happen? We all have aspirational dreams and goals but how many of us know how to turn them into reality. Many of you will have thought about writing business plans to make your dreams come true and been put off, thinking them either too hard to write, not necessary, or feeling that they are not really needed as the plans are already in your head. In fact it is important that you create plans, as they provide focus and a pathway for you to follow to achieve your business goals. In principle plans are not that difficult to write, providing some fundamentals are clearly identified and followed before you start the process.

Variable Incentive Plan: A Motivation & Retention tool
This article explores the various categories of Incentives that can be applied to employees in different job roles and how HR can use this tool to motivate and retain employees across the entire company. Variable Incentive Plans are coming to the fore to retain high-performers and encourage achievement.
Sales Compensation Plans: Improve Your Plan to Boost Your Profitability
Everywhere I go, CEOs complain that their sales compensation plans don’t seem to work as well as they had hoped. A bad sales compensation plan effectively converts “pay-for-performance” into “pay-for-non-performance.” If your sales incentive plan doesn’t create a win-win-win-for you, your salesperson and the customer-it is bound to fail sooner or later. Here are six key features of a winning sales compensation plan.
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