define incentives , types of incentives given to employees,advantages and disadvantages of incentives.?

Question

define incentives , types of incentives given to employees,advantages and disadvantages of incentives.

Answer 1

Also called perks or fringe benefits, they can include stock options, retirement plans, medical and dental insurance, special parking spaces, etc... Advantages are that they usually work best if you keep the job for many years until retirement. Disadvantages are mainly the fact that pay may be lower due to the company's expenditures on these benefits versus working for a company which offers no incentives.

Answer 2

Define Incentives

Answer 3

I learned this in school, but it was years ago. I'll try to remember.

There is a stair step of needs employees have, starting with food and shelter. Initial incentive is chance for pay increase so that the employee can increase his comfort level-better food, bigger home, nicer car. The next need is health, this comes not with pay increase but with medical coverage. The next, I believe, is enjoyment of life. This comes with vacation time. Once these needs are met money is not the greatest motivator and other motivators or incentives are needed. Some incentives that are proven in case studies to work include internal promotion, titles, authority over fellow employees, self regulating work, larger work space. People do there best work when they feel they are likely to be acknowledged for it, especially if the acknowledgement implies they are "better than" or "won out over" co-workers. Also, the more people that know of the acknowledgement, the more effective it is. A title given to someone means expedentially more the more people it is announced to. Some advantages of incentives are increased productivity, including that of those not receiving because the possibility of receiving is shown, decreased number of employees that call in sick, increased average length of time spent with company and better all around work space atmosphere. One disadvantage of incentives is that the expectation of a "reward" when not met can cause an employee that believes he deserved it to become disgruntle. This can spread thoughout the work force like a cancer. Another is that everybody rises to the level of their own incompetence. In other words, as more responsiblity, authority, non-supervised work, etc. is given eventually it is more than the person is capable of. The employer only realizes this after the fact. Then it is a matter of demoting, terminating, or allowing substandard work. The solution to this is to hire proven workers from outside of the company for important positions, but doing so removes large incentive for current emplyees as the opportunity for advancement is diminished.

Answer 4

Alfie Kohn discusses this a bit in his book "Punished by Rewards". Incentives are usually monetary or material in some way: bonuses, raises, cars, trips, etc. Advantages appear to be that people will work harder. Research into these programs and comparing them to when the company did not use incentive programs and/or when they stopped using incentive programs shows that incentives tend to create competition instead of collaboration in the work place--collaboration being better because "2 heads are better than 1"--and that creativity levels went down. While people may have been working harder, they were not working better because their focus was on the prize on not on the work itself.

Answer 5

Incentives are inducements provided as attraction but with strings attached. Advantages and disadvantages are short-lived as diminishing returns creep in as soon as the incentives offered begin to dim in value with inflation and with the increasing demand for better input from recipients of such offers!

Answer 6

Benjamin franklin wrote extensively on this topic. In short, when the poor realize they can vote to take money from others and give it to themselves then we are screwed as a nation. The producers are already paying for the care and maintenance of 1/3 of the country and democrats are offering to increase the handouts to maintain those votes they do get. If that number gets beyond 50% then the slide will only pick up speed till will hit a horrific bottom. I hear the line that the poor did not choose to be poor. I disagree. I grew up very poor. My parents made choices every day that kept our family poor. Mom refused promotions cause she didn't want the added responsibility. Dad got fired from good paying jobs for not showing up. They spent frivolusly and never saved. My childhood home looked like an episode of horders with roaches crawling inside the telivision. Welfare would not correct these bad choices but simply throw money down the well. The poor need less money and more good advice. They need neighbors who tell them to clean up thier yard and family members who tell them to get a damn job. My boot straps are well worn from all the pulling and I am doing quite well today. I highly encourage others to do the same.

Answer 7

incentive means fringe benefits like free parking,or you can invest in the company's stock at a reduced rate,paid vacation and so on .disadvantage of incentives means you lose or you will not receive a bonus because you did not make the quota they expected you to make

Answer 8

Living human kind no longer work for creativity with loving feelings on their creation of goods and services for the good of mankind in planet of apes.
They only go for ratings and "All for the money" all for themselves.
No longer have team spirit for the good of mankind in planet of apes.
While lettting others live in misery when they only have two hands in planet of apes.
How can we be successful when we only have two hands when others too reach out to extend a helping hands for their success in planet of apes.
Like those who get themselves listed as billionaires with two hands in planet of apes.

Answer 9

visit to:http://www.beyondintractability.org/essay/incentives/
good luck.