How to increase profits in your business (part 1)
If you are an entrepreneur, then you simply have to constantly ask yourself the same question - how to increase profits? Profit - this is business. The whole point of…

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The most important factor for business success
You want to know a lot of things, to be able to do even more, but if you don’t make a decision, if you are not ready to act, you…

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How to do a SWOT analysis (part 3)
Step 3. SWOT matrix Having calculated all the factors influencing the business and grouping them into four squares, we get the SWOT analysis matrix, as in the photo below. Thus,…

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How to stimulate employees, or about the mistakes of material incentives

What mistakes in motivating employees are considered the most common?
We will list a few standard mistakes made by managers and hope that they will help you better understand how to stimulate employees and thus improve your business.

Error number 1. Failure to pay remuneration obligations
In this case, employees are demotivated and eventually cease to trust management, and some even leave the company.

Mistake number 2. Premium payment guarantee
If employees are encouraged with guaranteed bonuses, then they often perceive the bonus as part of their salary. They do not need to make an effort to obtain it. And if you decide not to pay the premium, then you will receive a wave of discontent in response.

Mistake # 3. Overstatement of plans (standards)
In this case, the employee does not seek to implement the plan, because its implementation is simply impossible. This incentive scheme for employees will not lead to anything.

Mistake number 4. Copying one or another motivation scheme without taking into account those features that are available in a particular unit of the enterprise.
Any business unit has its own specifics, and this must be taken into account when developing schemes and methods for stimulating employees in the enterprise.

Error No. 5. The complexity of the selected motivation scheme.
In this case, the employees of the enterprise do not understand exactly how the motivation scheme works, and what is required of them to receive a bonus. But the motivation scheme encourages employees to perform work, and therefore should be understandable to them.

Mistake number 6. Stimulating those employees who show the best results.
In this case, over time, the rest of the employees will consider that they will not be able to sell more than the bonus employee, so there is nothing to strain.

Error No. 7. The absence of any adjustments to the motivation and incentive scheme.
The company management from time to time to change the motivation scheme. Only in this case, the business will be able to grow. Otherwise, the incentive scheme will not work properly.

Mistake number 8. Incorrectly formulated incentive indicators.
If employee incentive indicators are not clearly defined and there is no objectivity, then in this case it is also very difficult to achieve success. In this case, everything is left to the management and its subjective assessment of the situation. But business can suffer from this.

We hope that these tips will help you not to make mistakes when stimulating the personnel of the enterprise with the help of bonus payments.

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