The underlying assumption is that rewarding employees for achievement (usually financially) will encourage them to work harder and achieve more in pursuit of those rewards. This view is not borne out by academic research but in practice bonus schemes are widely used. A carefully-designed bonus scheme when implemented on top of good employee practices in a well-run business is a useful management tool – but it is not a substitute for these things.When you're struggling to grow your business beyond you; when you are trying to get the right people doing the right things so that the business is no longer reliant upon you - an incentivisation scheme might have a role to play.
Find out more at this seminar "The Owners' Trap", which will explain how incentivisation should be implemented - as well as the other steps you need to take to take your business on to the next level..
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