What greater way to motivate each and every [employee] than by giving them all a little piece of the pie. An ESOP motivates employees, improves firm performance, fosters innovation, and promotes sound financial health.
Have the right people create policy. In many companies we consult, these policies are set by an IT person. I’m a big believer that these should be management decisions. Top management should set mobile communications policy, with input from legal counsel.
The economic challenges we are all facing compound the view that current incentives are inappropriate and can lead to problems triggered by a lack of short, medium or long term accountability for corporate decision making. Bonuses are generated by short term deliverables which may not be in the best interest of the company and a logical replacement to this practice is a more long term, golden handcuff arrangement. Share schemes are a safe and fair way to motivate staff whilst ensuring their goals are entirely aligned with those of the whole company.
“Competition is always a good thing. It forces innovation, better pricing and more amenities,” says James Sinclair, President of night life specialists OnSite Consulting, commenting on Nazarian’s new club. “In the end, it benefits the consumer.”
