menu search
brightness_auto
Ask or Answer anything Anonymously! No sign-up is needed!
more_vert

15 Answers

more_vert
Incentive is some form of motivation like payments given to the workers to improve output. Yes, I think it's good especially if the business is in a place with stiff competition. Employees will be motivated to do their work well knowing that at the end of the day/month, they have something in their pockets.
But then, the state of the business matters a lot. If the business is making good profits and still the owner wants much, then he should give out some incentives. On the other hand if the business is down employees have to understand.

The only problem with business nowadays is that they don't offer this motivations apart from a few. If all business could adapt this, then most businesses will succeed.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Is this the same as business owners should provide incentives to their employees? I think so. Incentives are forms of rewards and appreciation about a hard work. As an employee, whenever I am receiving an incentives, I feel like I did something good. I felt that I did everything to make them feel at ease with me. If you will give incentives, the employee will feel good. They will feel needed and they feel they are doing the right thing. They will surely feel inspire to do the same work again and will be innovative for sure because they will try different things on how they can do the job easily for them. If you keep on doing it, your employee will love you and will be loyal to you. There are different kinds  of employee but for sure business with incentives creates a good employer and employee relationship.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
If you are referring to incentives that are given to employees, then definitely yes. It is important for every business or company to have its own reward and recognition program. In fact, multiple research studies have shown that the feeling of being appreciated drives an employee's engagement in the workplace. Knowing that their hard work, efforts, and sacrifices are being recognized not only boosts their spirits, but also motivates them into a whole new level.

Other than the usual output-based incentives, the management shall also look into the behavior of each employee, and provide appropriate recognition and reward for having been a model to others. This will not only stimulate healthy competition but will also encourage them to be a better coworker and a team player.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Sure,every business owner that is business minded should know this.incentive is like a high booster for huge sales. Who doesn't like freebies and giveaways. These are incentives that can prompt people to buy things that they might not have ordinarily bought but because of the clause like buy 2 and get one free it can make one even go on impulsive buying.

Incentives bring more customers and sales

Profits are made easily because of huge sales.

This can also help in the business expansion, more sales leads to more money and in turn means more money to buy more goods.

Incentive can make one have repeated customers . People loves incentives so  they will continue to patronize the business more for more freebies.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
It is not out of place for businesses to provide incentives for their workers. It serves as a source of motivation for them to do better. There is no way business can thrive without showing the workers how valuable they are to the success and progress of the business.

It makes them want to give more of their skills, abilities, and creativity to the business. If nothing is there as stimulus the morales of the workers will be down which will reflect in the overall output of the business.

Importantly, just how fuel is to vehicles that's how incentives of various forms are to the workers of a particular business set up. These incentives could be bonuses, pecks, all expense paid vacation trip etc.

In my own opinion, every organization aiming to reach the zenith of their successes should imbibe the attitude of encouraging their workers via incentives.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
The  success of every business depends on the planing, management and cooperation of the employer and employees.  To a very reasonable extent every human loves to be motivated and appreciated in their jobs.

Giving incentives is a good way to make business prosper,  when you give incentives to your employees they put extra effort to their respective duties,  it conscientise them such that fraudulent activity will not come to thier mind.
The incentives can also be grouped into different categories such that there will be competition and more commitments to their duties when incentives are been given according to performance. Most businesses are not sustained because of negligence of little things like this.  It is very important.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Absolutely. Incentives make a worker feel valued and he will feel more motivated to do well. One place I worked used to give a 6 monthly bonus both in the summer and at Christmas and we were always very excited when these times came around. Very few people left the company because they felt appreciated.

I think incentives are also an indication of how well a business is doing. Some places start off giving out a bonus and then decrease or discontinue it because as time goes on they can no longer afford to pay it. This can be quite demotivating for the employees.

Other companies give out bonuses to individuals based on their work performance. I think this is quite a good idea as it encourages people to work as hard as they possibly can so if they don't put in the work they don't get the bonus,
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Incentives are great way that most new businesses penetrate into the market. There are lots of businesses that I know that got a bigger market share all because they made use of the incentives to attract both quality workforce as well as those people that are there to buy their products. I have noticed that some companies always give incentives such as free accommodation to the new workers especially those that are going to assist in boosting the sales level of the business and this is great.
I have also noticed that some products come with freebies which is a form of incentive. For example, some toothpaste making industry always ensure that they add one free toothbrush to their products and this is one of the ways to get the buyers to patronize their products instead of having to buy from others. So, I think that providing incentives is good for any business especially when they are trying to dominate a particular market.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
To ascertain the importance of incentives, we need to begin with it's meaning and understanding what incentives are all about.

I like to subject incentives under the category of appreciation, a standard work behavior put in place and exercised as different working situations requires. Hence, Incentives can be any act of appreciation put in place to serve as inducement or motivation.

In a work place, incentives will mean inclusion on reward that motivates or compels effort. It might be in tangible form or otherwise. But in most cases, incentives are commonly exercised through the form of money, usually called bonuses. These bonuses as we know can motivate an employee's self willingness to work harder and produce better outputs.

If you look closely, you'd agree that incentives are more of a psychological workout. It's a pattern every human has become accustomed to right from the start of life. You play good, you get something good in return. The idea is already known to us and accepted by all. So I think it's best if every work place practice the act of appreciation as almost every single person can be implored in it's execution.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
This is applicable to the marketers of a company. It is a strategy to make them work hard and meet their quotas. At some point, it is a win-win situation.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Yes, businesses should provide incentives to employees and customers as it can help to motivate and encourage them. Incentives can also help to boost morale, increase productivity, and reward loyalty.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Incentives can be provided in a variety of ways. A business can offer incentives that improve the quality of the customer's experience, create new customers, or grow its business. It is up to the business to decide what type of incentives it wants to provide.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Yes, it allows companies to improve productivity , reduce employee retention and lower production costs . It builds engagement among employee to encourage teamwork and  boost morale
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Yes, providing incentives can be a valuable strategy for a business to motivate its employees, increase productivity, and achieve its goals. Incentives can take many forms, such as monetary rewards, bonuses, promotions, recognition, time off, training and development opportunities, and other benefits.

Incentives can help to create a positive work culture that values and rewards hard work and achievement, which can lead to increased job satisfaction and employee engagement. When employees are motivated and engaged, they are more likely to work harder, be more productive, and take ownership of their work, which can ultimately benefit the business.

Moreover, incentives can help to attract and retain talented employees, who may be more likely to stay with a company that offers competitive compensation and benefits packages. This can help to reduce turnover rates and save the business time and money in recruitment and training costs.

However, it is important for businesses to carefully design and implement their incentive programs to ensure that they are fair, transparent, and aligned with the company's goals and values. Incentives that are perceived as unfair or arbitrary can actually have a negative effect on employee morale and motivation. Therefore, it is important to communicate clearly with employees about how incentives are earned, and to regularly review and adjust incentive programs as needed to ensure that they remain effective
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
When it comes to employees, rewards and incentives in the workplace have benefits for both employees and employers. When recognizing employees for their performance and productivity, can improve morale, job satisfaction, and motivation to support organizations in attaining their aims.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
Whenever you have a question in your mind, just drop it on Answeree. Help our community grow.
...