Assignment task: Can someone help me reply to these posts from their points of view
1. In my opinion the incentive program that is the best and most effective is the Non-financial and Recognition based awards. This incentive program does more than just recognize the employee for their hard work every so often. This incentive program offers money awards like gift cards, cash payouts, and sweepstakes, along with awards that are not money based such as allowing their employees to recognize other employees, an employee of the month, special events, and training programs. I think this is the most effective incentive program because it keeps employees motivated, and they want to do more since the company goes out of its way to make them special, whether is by getting work merch like a shirt, hat, or blanket, they have something to make them feel appreciated. Also, it's not something they have to wait for, like some incentives which may only get paid out quarterly or yearly. I know personally I would want to make sure I am hitting or exceeding my goals if my job rewarded and made me feel appreciated for my hard work more often than what they do now.
2. Incentives are a great way to motivate and encourage employees. Group incentives reward a team of employees that completed a task. It can only be used when a goal requires collaborative work to be completed. It can help create positive teamwork and improve employee engagement. Merit-based is the most efficient group incentive. Employees are given raises based on their performance, as a whole. When the team is going above and beyond performance levels, they are given a raise. The main reason everyone works is to get a paycheck so if employees have the opportunity to get a bigger paycheck, they are going to perform with their best skills. Individual incentives are based strictly the one individual's performance. A great approach to individual incentives is to use a piece-rate incentive program. Compensation is based on the number of units the employee produces. An example of this is if John gets $10.00 per unit completed, and John produces 8 units today, he would receive $80.00. This is a great way to increase productivity.