The incentives offered by employers in order to motivate their workers and cause them to be productive are very important for the flouring of any business as in case they are well-thought-of that will, by all means, lead to the effectiveness of the company’s work. In the following paper, particular incentives offered by the company I had an opportunity to work with will be examined. In addition, the paper will present an analysis of possible consequences which could occur if such effective incentives were not offered. Overall, these incentives can be evaluated as rather effective in motivating the company’s staff, and, thus, helping the company in being highly profitable.
First of all, the incentives I was offered will be addressed. All of these incentives were related to the system of payment which I found very wise and effective as the most important motivation for any worker is the salary (Karakowsky, Carroll, & Buchholtz 2005). I was offered a payment system based on the flat-rate payment with the elements of the piece-rate system. Within the frameworks of such a payment system, the workers were offered a fixed payment for each day of work combined with the bonus and fine system.
If a worker fulfilled more work a day than the standard established one was to receive a bonus, the more work was done the bigger the bonus was. In addition, the bonus rates primarily depended on the quality of work – if the quality controllers stated good results I was rewarded. There was also a completion among the employees held every month. The fields of the competition were the best quality of work and the amount of work done. The best of the employees (or a few best ones) were to receive additional payment.
And on the contrary, if the employee fulfilled fewer tasks or had poor quality of work and worse than the standard established one was fined. The fine system was also rotated (similarly to the system of bonuses) – the worst result was the bigger fine was to be imposed. In addition, the longer the worker provided good quality of work the bigger bonus rates were to be presented.
Further, with regards to the effectiveness of such an approach by the employer, it should be stated that the results of such a wise approach could be hardly underestimated. In particular, the motivation levels were very high – the employees competed to become the best ones and to get as much money as possible; the levels of quality needed in the process of enterprise operation were evident: to win the bonus the workers were to offer the best work quality; the needs of the partner companies in their receiving high-quality services in faster terms were met at the best way possible; the owner of the company was happy to see his company being run in a highly profitable way as he had a motivated team of great workers who constantly strived to achieve more. In case such wise strategy in bonus and fines system was not offered the enterprise would not be able to boast on the reason of such high levels of income, and such a respected reputation among its partners (Bullock 2012, Kotler, & Keller 2009).
In conclusion, the importance of effective incentives motivating workers and causing them to be productive can be hardly underestimated for any enterprise. In particular, they help the company to be highly profitable on the reason of effective work by its motivated employees.
References
Bullock, R. (2012). Employee vs Employer Opinions. Web.
Karakowsky, L., Carroll, A.B. & Buchholtz, A.D. (2005). Business and Society: Ethics and Stakeholder Management – First Canadian Edition. Thomson-Nelson: Toronto, Ont.
Kotler, P., & Keller, K. L. (2009). Marketing Management (13th ed.). Upper Saddle River, NJ: Prentice-Hall.