Be creative with compensation and perquisites. Remember, most people are not motivated by additional money. Respect, recognition, challenge and non-monetary benefits mean more to most people than a few dollars for a new sale.
Some other basic rules to consider are:
1. Establish criteria for judging good performance for each position. When exceeded, they should be eligible for a bonus pool.
2. Have incentives for going beyond the job description.
3. Have non-monetary incentives/bonuses, such as:
- Day off with pay
- Tickets to sports, music or cultural events
- Recognition: advertisement in the local newspaper, thanking employees for their contributions or plaque in the office
- Donation in an employee’s name to the charity of his or her choice
- Pay for tutoring for the employee’s child, or daycare for a month
- Have the employee’s car detailed during work
- Pay for the employee’s house to be cleaned
- Special parking spot at work for employee of the month
- Pay for an evening out for the employee and his or her spouse
- Limo picks up employee at work to go shopping for the day
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