Incentives 'should be paired with team building'

Date: 23/03/2009

Self-interest is a unique galvanising force in business and should be played upon through staff incentives if a company is to succeed in getting the most out of its employees, an expert has said.

Robert Heller, speaking to Management Issues, said that such schemes, which may also expand to reward and recognition, will show which methods are the most able in achieving this overall goal.

However, this is not the only facet of motivating employees which should be considered, with the writer adding: "Self-interest is a powerful engine of economic performance but it is far from being the only one.

"Many other parts are necessary for the economic motor to run smoothly - like teamwork and delegation."

In conclusion, Mr Heller stated that this approach could unlock key skills in an environment which requires existing workers to step up and deliver more to keep things going, with incentive schemes giving the employee good reason to commit these extra abilities.

According to the UK Insolvency Helpline, the implementation of staff incentive schemes can help in the recruitment and retaining of valuable staff, as well as improve the overall view of the company in the eyes of critics.

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