Incentive of the employer and employee Research Paper

Incentive of the employer and employee - Research Paper Example Through incentives employees remain motivated to perform and it gives them the opportunity to get a little extra something other than their annual pay (Fisher, 26). Employer is a person or institution that hires workers or employees, whereas an employee is a person in service of an employer under contract of hire. The employer has the power to direct the employee in the manner the work has to be done (Fisher, 87). Employee incentive program has become a significant element in an HR toolbox. Employee performance has become a very important part for the success of the company due to the competitive pressure and increase in demands. To develop, launch and implement an effective employee incentive program it is important to identify the goal that leads the organization forward towards success. The incentive program should be such that it stimulates employees to achieve company goals. It should also have the potential to grow and increase the job satisfaction and employee morale. The program recompenses and emphasizes actions that have an encouraging influence on the company. Following are some key points to develop an effective employee incentive program (Rosenbloom, 357). Types of performance and behaviors that are to be encouraged need to be clear. Regular and ongoing reminders have to be provided in order to keep the enthusiasm high. The program should be continuously evaluated and modified so as to ensure that it continues to be effective (Rosenbloom, 398). First step is to create a brief survey and distribute to employees asking for incentive ideas. Evaluate the responses in terms of tangible or intangible rewards. The survey should ask questions about recognition and rewards without differentiating between monetary and non-monetary rewards. Employees are to be provided with clear choices in the survey in order to get clear answers. Questions should be asked to check the employee preference of a cash reward over a personalized inscription