Definition - What does Incentive Management mean?
Incentive management is a management technique in which employees are given specific incentives for completing specific tasks or goals. The purpose of incentive management is to keep employees highly motivated to perform well or meet certain company goals. Goals can include productivity, safety, and health habits. Incentives are commonly financial, and often come in the form of bonuses. However, incentives can also be discounts on health insurance, free gym memberships, extra vacation time, or anything else that the employee would find motivating.
WorkplaceTesting explains Incentive Management
Incentive management is management strategy that seeks to reward employees for completing certain tasks or maintaining particular behaviors. While incentives were traditionally offered for sales or productivity goals, it is becoming more commonplace to also apply incentive management to safety and health. By applying incentive management techniques to employee health (encouraging workers to stay home when running a fever by not counting it against off days so that others don't become ill for example) and workplace safety (by offering a bonus if an entire department reaches a specific goal of days without an accident for example), employers seek to spend small extra capital up front in order to save much larger amounts of capital later.