Incentive based pay – bonus payment for achieving pre-established levels of performance – can be a great thing for building profit and producing better company results. When pay is tied to results in a team culture organization, strong incentives are created for achieving success. Choosing the correct goals and rewarding individuals and teams for accomplishing them can have dramatic effects on reaching company objectives. Result-based based pay programs also benefit companies because pay only escalates when results are positive, meaning that companies only incur these costs when they can afford them.
KB Consulting’s experience with result-based pay programs will provide your company with:
- Long-term motivation for teams and individuals
- Reduced turnover due to team member investment
- Simple, easy to administer program guidelines and scorekeeping tools
- Budget friendly program structures which avoid high payroll costs in times of slow sales
- Reinforcement of a team concept where all are rewarded for company successes
KB Consulting’s result-based pay programs allow you to build and maintain a team which works together to achieve results that cannot be matched by individual performances. If you reward the results that build a profitable business, it will be one of the best things you’ve done for your company.
Case Study – Team Building
Jaclyn Acker, president of Chelsea Frames, says her company now provides incentives to reward teams and individuals who continually perform at or above goals.
“I learned that transparency in business is a key to making team members a part of company success and that using incentives and scorekeeping builds investment from others…The greatest compliment I receive today is that my team enjoys working here. They have a sense of ownership and pride for the accomplishments of the company. This program has been the most important thing I have done for my company.”
Jaclyn Acker, Chelsea Frames
Building The Perfect Team
Learn the secrets for grooming your team for optimal efficiency and dependability in this downloadable seminar. Ken discusses hiring tactics and programs to empower your team to help grow your business.
“An incentive program that rewards your team for enhancing your business can build morale, create a single focus, and make you more profitable.”
Read the full article, “Incentive-Based Pay: Is It Right For You?”
