In the modern business climate, firms are increasingly aware of the value of making the workers into a team, all dedicated to success. In the service of that goal, new industries often offer ownership in the form of stock or stock options to employees. UPS learned the value of this almost 100 years ago, and the high tech companies of today routinely create employee-partners.
Incentives help make the workplace exciting and lively — a place where the camaraderie and culture are directed toward production and achievement.
Incentives are rewards, and they can be offered in many ways besides ownership. The company can provide opportunities for co-workers to socialize, party, and get to know each other. Facilitated retreats can also be sponsored, geared toward forming trusting relationships. On the lighter side, the company can sponsor things like employee sports leagues and teams.
Incentives can take the form of money — commissions, bonuses, and merit raises. There can be opportunities for advancement in the company, with the potential for becoming a member of the management team.
It is in everyone’s interest to make the workplace a fun place where people are forward-looking, happy, excited and invested in their work and in the company. Incentives can be powerful tools in building toward success.