A Perfect Match: Employees and Incentives

Want to reward your employees and beef up their loyalty to you, too? Then consider personalized incentives instead of cash bonuses this year. According to a recent survey published in Benefits & Compensation Solutions (Norwalk, Conn; 203/855-5525), 29 percent of employees are using their hard-earned bonuses to pay bills. Nineteen percent say they can't remember what their bonus dollars bought.

This all-too-common money exchange robs both you and your employees. Sixty-three percent of the survey's respondents said, "their loyalty to their employers would increase if they were allowed to choose rewards that were personally relevant to them."

What kinds of rewards would be personally relevant? Gift certificates, travel certificates, televisions, debit-card certificates, dinner for two, theater tickets... the list goes on.

So what does this mean to you? There's still time to cash in on employee goodwill. American Express Incentive Services (yes, they do this, too) offers a Manager's Tool Kit complete with a step-by-step guide for your next incentive program on their web site.

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Upcoming CPE Webinars

Jul 16
Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
Jul 17
This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.