Incentives are a powerful means of altering employee behavior and the way you design them can influence the morale and productivity levels that employees exhibit. While striking a healthy balance between work and incentives can motivate employees to go the extra mile; going overboard can have a reverse effect and impact the quality of work. The incentive structure should be used to fuel employee motivation and shouldn’t become a rat race to mint personal profits.
Business owners, therefore, must ensure that perks are a gentle push to achieve larger objectives and not an unnecessary pull. There has to be a certain cap to the incentives you provide to ensure there is always a healthy competition among peers and the workplace doesn’t grow toxic.
Contributor: Ketan Kapoor, CEO & Co-Founder Mettl from mettl.com