Cash or short-term incentive plans (STIP) engage employees in the process of achieving business objectives, reward desired behaviors, and help execute the organization’s long-term strategy.
If labor costs are a significant expense in your company financials, consider introducing a cash incentive plan.
Cash or short-term incentive plans (STIP) engage employees in the process of achieving business objectives, reward desired behaviors, and help execute the organization’s long-term strategy.
Incentive plans, when properly aligned to business outcomes and rolled-out effectively, can be a powerful tool that enable organizations to “do more with less” and achieve a greater return on investment (ROI) in cash compensation programs.
The positive business impact of this type of plan includes incentivizing and motivating employees, engaging them in their jobs and business outcomes, and better financial management of fixed versus variable costs.
