Employee Turnover And Retention Briefings Abstract: 72
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Rewards programs are an effective method for improving employee morale and retention. This according to a recent survey of HR professionals by the Society for Human Resource Management (SHRM).
Incentives for Managers
Managerial level employees are generally rewarded for attaining long term goals. Common monetary rewards for managers and above include incentive compensation, year-end bonus and profit sharing.
Rewards for Non-Managerial Staff
Incentives for staff level employees are generally used to help reach short term goals. These award programs may include employee referral bonuses for referring outside applicants that are hired and spot bonuses for outstanding performance.
Survey respondents caution that rewards programs do little to motivate under-performing employees. Read Source