Brcm College Of Business Administration

Name Divyansha jain

Class Sybba (Sem 4)

Roll no- 29

Submitted to Ms. Vidya Mam

Topic communicating incentives the right way

Communicate incentives, the right way

As a result of performance linked incentives , companies today are witnessing a rapid jump in output. At the same time, in order to sustain employees performance, sometimes,the very nuance of an incentives may get lost, discovers Unnati Narang. What does communicating an incentive scheme entail ? communication is the art of putting the matter in the correct perspective to the target group. All kinds of professional communication in an organization should be straightforward without any complexities or margins for misunderstanding. Moreover communicating incentive schemes should be a transparent process and precise in nature as improper communication in such sensitive topics will lead to ambiguity. As a manager, one should always foresee the consequences of the particular incentives scheme to be communicated to the employees . if the employee prefer non monetary scheme as compared to monetary ones , then communicating a monetary incentives schemes to him/her becomes a challenge. An effective method is to obtain immediate and honest feedback from the employee if he/she is not satisfied by the incentive scheme says Debasis Chatterji , CEO of netxcell. It is important to feel the pulse of the organization and employee is to be able to incentivize anything.and this comes from more than just ones instinct ,says Ramanath Gurjala,VP,HR,Lapp India Pvt. Ltd.it is important to underdtand aspiration of your people in a scientific manner .Herzbergs Motivation theory reflects not only motivating factor but also maintenance ones.one of the maintenance factor could also be an incentive scheme for recognizing significant contribution or achievement of targets. While theories are a good referral tool for understanding how motivation works, in the real world, simple things like how incentives are disclosed and discussed make a huge difference. For instance, if different incentives schemes apply to different jobs and people, should they be discussed in a common meeting or individually with teams? "It is a thumb rule to discuss different incentive schemes differently to

the respective target group. Otherwise, there will be confusion amongst the employees. It is also important to understand the psyche of the employees. Even in a team, there will be different reactions. Generally, the companies follow a policy of discussing these on a one-on-one basis with the employees during their appraisals. Such discussions also provide an opportunity for a feedback session. However, if such meetings are not possible due to the excessive number of employees, then there can be combined meetings with groups of employees who are entitled to similar incentives or schemes in one single meeting," says Chatterji.