October 1, 2002
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Study suggests incentive programs key in worker performance
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INCENTIVE PROGRAM STUDY - KEY FINDINGS
- 92% of workers surveyed indicated that they achieved their goals because of incentives.
- Incentive programs aimed at teams increased performance 45%.
- Incentive programs aimed at individuals increased performance 27%.
- 57% of corporations surveyed reported that incentive objectives were met or surpassed, and 92% reported objectives were surpassed, met or at least partially met.
- Long-term incentives are more powerful than short term (44% gain for programs beyond a year versus a 20% gain for programs less than one month).
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The “Incentives, Motivation and Workplace Performance: Research and Best Practices” study, released last month by the SITE foundation suggests incentive programs are key in impoving worker performance and business objectives.
The incentive study indicates that employers can change negative mood environments that adversely affect achieving work goals. Of particular relevance during an uncertain economy is how mood impacts motivation and performance. In addition, there is strong evidence that organizations using incentive systems are able to hire and retain higher quality workers, and that these effects are even greater in larger organizations.
“This definitive study shows that tangible incentives dramatically increase work performance by an average of 22 percent,” said Mike Hadlow, president of the SITE Foundation. “No CEO in the world can afford to ignore this compelling finding. Incentive programs may be the single most important performance-improvement tool available to executives today.”
The SITE Foundation is a non-profit, independent research organization. Visit The SITE Foundation, a non-profit, independent research organization. For more information visit sitefoundation.org. PR
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