SOLUTION:

Building Financial Rewards

PURPOSEHelp your team understand the long-term financial rewards available to him or her, 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

PURPOSEHelp your team understand the long-term financial rewards available to him or her, and discuss what the team member must do and/or achieve to take part in these rewards.

Time: 3 Hours

STEP 1Gather 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. 

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

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