Question

Walk me through the steps of setting up an effective incentive plan for the following situation.

Situation: You are a manager at a large tech company, and notice that your employees consistently turn in their reports to you late (ranging from a few hours to a few days late). How would you get your employees to turn in their reports on time?

Answer 1

Incentive plans are used to encourage and reward the exceptional performances of employees in organisation . Some steps to achieve an effective implementation of incentive plan are as follows :
1) provide the complete details about what is required from Employees ..what goals, targets they are required to achieve to receive incentives
2) present the incentives so that they are visible to all and encourage others to achieve
3)a fair and transperant process should be implemented while screening the person's eligible for incentives
4)the program should be challenging to create a healthy competition skiing all people and members
5) keep a check on unethical practices followed and put a penalty on them