article thumbnail

If you want to increase productivity, let an algorithm decide the incentives

Workplace Insight

Results showed that highest average performance is achieved through the scheme in which a bonus can be lost if a target isn’t met (bonus loss). Results showed that highest average performance is achieved through the scheme in which a bonus can be lost if a target isn’t met (bonus loss). While the bonus loss condition raised performance by 23.9

Bonuses 59
article thumbnail

Why Today’s Incentive Thinking Is Different

Achievers

As the Forbes Coaches Council puts it, “In decades past, motivating employees was all about raises, promotions, and bonuses. Employees were frequently paid at a piece rate, providing them with a straightforward pay incentive to be as productive as possible. Twentieth Century Workplace Traditions.

Bonuses 121
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Is Paying Your Employees Overtime Mandatory?

Abel HR

Per the DOL, “overtime must be paid at a rate of at least one and one-half times the employee’s regular rate of pay for each hour worked in a workweek in excess of the maximum allowable in a given type of employment.” ” But some employees are paid by the hour, some are salaried, and some receive a piece rate.

article thumbnail

3 Tech Tools No HR Department Should Be Without

Insperity

Most payroll systems house historic data in the form of piece rate, commission, bonuses and other special pay types. The time and attendance system can confirm the presence of an employee, either within expectation or as a development opportunity. Managers can see when an employee invests significant time into a special project.

article thumbnail

3 Tech Tools No HR Department Should Be Without

Insperity

Most payroll systems house historic data in the form of piece rate, commission, bonuses and other special pay types. The time and attendance system can confirm the presence of an employee, either within expectation or as a development opportunity. Managers can see when an employee invests significant time into a special project.

article thumbnail

Is Your Annual Incentive Pay Plan the Right Fit For Your Business?

Insperity

But you can make up for its shortcomings by supplementing with the addition of one or more alternative incentive plan options out there: Bonuses: A one-time reward for attaining a goal (not necessarily year-end, within any agreed-upon time period). And finally, talk to your employees.

article thumbnail

Is Your Annual Incentive Pay Plan the Right Fit for Your Business?

Insperity

But you can make up for its shortcomings by supplementing with the addition of one or more alternative incentive plan options out there: Bonuses: A one-time reward for attaining a goal (not necessarily year-end, within any agreed-upon time period). And finally, talk to your employees.