Profit sharing/Staff Incentives

Hi Terry,

Not sure if this is in the same league but……..

I used to work for the Education Department and we got a free biro whenever the previous one ran out[biggrin]

Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958

Hi Terry,

I used to do a lot of HR, and prior to R/E had an interest in incentive programs and the like.

I found that while money motivates, it only does so temporarily. Issues about feeling valued, belonging, recognition, challenging work, even self-esteem were higher long-term priorities.

Naturally, the issue of pay is a major factor.

As far as an incentive scheme goes though, let’s look at Henry Kaye as an example. From what I saw, his organisation fed off commissions from people who signed on for his courses.

It seemed that he had an army of people out their bringing people through the door. They must have been enrolled in his spiel, as I have heard of lawyers and other professionals leaving jobs to earn bigger dollars.

I suspect that whatever the scheme is, for it to be effective it must be realistic, achievable, and have others benefit from it. It must also be equitable or else people will give up.

I have seen plenty of schemes come and go on the basis that the program was a good idea but did not motivate staff as it missed the mark.

I guess that overall, not everyone is motivated by money, and those that are will only stay until a better paying opportunity presents.

Bye,

Steve McKnight

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