Are incentive programs good ways to retain top talent regardless of market conditions?
Certainly, even in a down market, incentives can provide a strong retention hook for an organization’s top performers. Highly skilled, high-performing individuals, regardless of market conditions, will always be in demand. Almost all companies understand this fact. The challenge for a company lies in the proper design of its incentive plans. How is corporate culture tied to effective incentive programs? A company’s culture is unique, and the metrics that determine success should be directly linked to that culture. Leaders need to be able to articulate an incentive plan’s measures of success so that all employees understand what they are being measured on and how to achieve success. From the moment an employee comes to work at your company, that person should be keenly aware of whom he or she serves. In our case, that’s the men and women of the U.S. armed forces. We routinely showcase in our internal communications employees who embody our mission and core values and demonstrate our ‘My
