Incentives, also referred to has Activity Based Compensation ("ABC") can bring tremendous reward to an organization by creating a win-win situation for the associates and management. A properly designed incentive program will motivate and reward associates all the while creating a positive impact for the company. Conversely, a poorly implemented program will either not work, incentivize bad behaviors (e.g. poor quality, damages, injuries), and/or become a financial drag on the company.
Given the current labor shortages challenges, incentives should be considered as a means to attract and retained associates.
The first step in creating a successful program is to start by implementing accurate Engineered Labor Standards ("ELS") to properly set the baseline of the productivity component of the incentives.
G. H. Bishop has worked with many organizations guiding their ABC initiative. Our experience will help you put in place the right measurement and avoid the pitfalls associated with hastily implemented plans.
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