John Kenney, CEO, Cotney Consulting Group
This year may have been rough and some companies that already reward employees with incentives are cutting these programs. Consider, instead, developing a compensation program that helps you achieve your company’s goals. Nearly two-thirds of all companies use an incentive compensation program, including the construction industry, which often leads all other sectors in offering bonuses to top officers. The best incentive plans tie compensation to all aspects of an employee’s job. Quality and safety standards may suffer if you are only rewarded for getting a job done on time. So, set up your program to reward excellence for time, budget, quality, and safety. Read more.