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Use incentive compensation plans to increase workplace productivity
By Brian Thompson,
May 16, 2017
Productivity in the workplace is essential to company success. As engagement and productivity are already a part of many company's management strategies, it remains frustrating to many managers and supervisors that productivity levels may continue to drop.
When companies straighten out productivity problems and can engage employees in the task at hand, revenues can increase and business can improve. One effective way to increase productivity at the office is to implement a strong incentive compensation plan. With the right incentive compensation plan in place, workers will be motivated to conduct business efficiently and effectively.
Incentive compensation plans can help improve workplace performance
To motivate workers to increase sales, a company can use an incentive compensation management program, for example. Rather than showing up to the office every day without any real reason to go the extra mile, ICM plans can push workers to bring in higher sales and be efficient with planning their days. An executive can set up a sales competition that rewards employees with the top sales numbers for a week, month or quarter. When team members get to the office each day, they will be motivated to spend their time wisely, focusing on work and increasing productivity and engagement.
Increased productivity is not only good for business - it's good for employees, too. According to a recent report by a UK research team , 60 percent of respondents said they do not have a healthy work/life balance, and a lack of productivity can make this feeling worse. ICM plans can help employees increase productivity, and as a result, help make them happier and healthier workers.