itft-Incentives

Incentive Programs

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Introduction

• Employee Incentive Programs reward exceptional employees for reaching work goals, achieving milestones or simply doing a good job.

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Advantages • Mutual Rewards

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• Increased motivation

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• Increased company morale

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• Increased productivity

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• Reduced company costs

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• Team Work

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Individual incentives: Types • Sales commission

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• Bonus

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• Merit pay

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Group Incentive Plan

• Profit sharing

• Employee Stock Ownership Plan (ESOP):

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Voluntary Benefits • Hazard pay

• Health insurance

• Paid holidays

• Pay raise

• Disability

• Employee Services

• Relocation Benefits

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Retirement Plans

• Social Security,

• pension plans

• individual savings.

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