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

Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.