SOLUTION:

Building Financial Rewards

PURPOSE:Ā Help your team understand the long-term financial rewards available to them, and discuss what the team member must do and/or achieve to take part in these rewards.

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SOLUTION:

Building Financial Rewards

PURPOSE:Ā Help your team understand the long-term financial rewards available toĀ them, and discuss what the team member must do and/or achieve to take part in these rewards.

Print or Download Solution

Time:Ā 3 Hours

STEP 1:Ā Gather your company resources regarding the various financial rewards available to team members. Be sure to ask your HR/Benefits representative any questions you may have to understand the rewards available for team members.

STEP 2: Facilitate a team meeting to discuss financial rewards. During the meeting, perform the following:

  1. Outline the financial rewards available to team members
  2. Describe how the reward works, as well as the benefits created for team members
  3. Identify what team members must do and/or achieve to take part in the reward
  4. Refer team members to additional company resources

STEP 3: Outline the next steps both you and the team member must take to help the team member begin or continue benefiting from the financial rewards.Ā 

Team members should customize a financial/incentive plan based on what becomes available to them and their individual needs.

NOTE: If you are an individual, you can reach out to your manager and ask to discuss the "Building Financial Rewards" solution within a one-to-one meeting.Ā