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Salary incentive
This is a financial reward for performance instead of payment for the number of hours worked, aimed at motivating the employee to reach certain performance figures or goals.
Although incentive payments most frequently refer to money, there are other types of non-monetary incentives such as gifts, dinners, or trips.
Their implementation seeks not only to reward the past but also to influence the future. The main objectives are:
- Increased productivity: Stimulating extra effort to achieve ambitious milestones.
- Attraction and retention of talent: Positioning the company as a meritocratic environment where effort translates into gain.
- Fostering key behaviors: Incentivizing not only the "what" but also the "how."
For an incentive program to be effective, it must meet three golden rules: it must be measurable (key criteria), achievable (realistic goals), and transparent (so that the employee understands exactly why they are being rewarded).
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