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Creating Effective Employee Incentive Schemes Part II

Traditional Employee Incentive Programs Historically, Incentive plans have been used primarily in larger firms, particularly manufacturing firms. These traditional Incentive Programs are entrenched in many companies and are often considered a part of the basic compensation structure of the company. Probably the four most commonly used, large company "Incentive Programs" are: Piecework Profit Sharing Position Bonus Subjective Bonus. Let's take a closer look art each of these traditional programs: Piecework How the Program Works "Piecework" programs are often found in manufacturing environments. They are used to compensate and reward (or punish) volume production by individuals and departments.

The Value of One Hour of Your Time

As business owners we are always time strapped. Every day we have to pick to do the tasks that can generate the most profit for our companies. Time is money! How many times have you heard that old saying? It is true. Every task you perform in a business has an opportunity cost. In other words, you have to decide whether your time is better spent focused on one activity or another. You need to decide which activities are better outsourced, and which are better done on your own. How much is your time worth? What is the most lucrative use of your time? Is it selling? Is it dealing with clients? Is it marketing? Is it bookkeeping? Take a look at the following example: A business owner sells his product in approximately 1 out of every 3 sales meetings.

Effective Time Management - Common Problem? Part 2

This is the second in a three part series of articles that were written as a result of a Time Management course that I recently attended. In the first part I was specific enough to mention a few of the myths that we usually allow ourselves to believe is true. This second part will delve into more of the art of prioritizing and also broaden the topic to some general discussion on time management. As I mentioned in the first part, we must choose to invoke a behavioral change from within. "Everything remains the same unless something changes" is a quote that I heard a few years ago that has stuck with me since. An area of weakness for me was prioritizing at work.

Understanding Variation

Variation First, remember that not all variation is bad. Planned variation, like that in an experiment, is a process improvement strategy. Unplanned variation, on the other hand, is nearly always bad. Two types of variation concern a process improvement team. These are common cause and special cause variation. All processes will have common cause variation. This variation is a normal part of the process (noise). It demonstrates the process' true capability. Special cause variation on the other hand is not normal to the process. It is the result of exceptions in the process' environment or inputs. In a process improvement project, the first step is to eliminate special causes of variation and the second is to reduce common cause variation.

Five Simple Steps to Improve Productivity

What happens when you hear the phrase process improvement? Do you groan or sigh? Do you think "this is going to be a lot of work and take a lot of time?" Typically, this is the natural response to the concept of process improvement. But, it does not have to be that way. Here are five (5) simple steps that you can take to improve the productivity of you business There are certain basic tasks that must be done to make a business successful. Sometimes it is useful to take a fresh look at these basics to see that the organization is still on track. If there are fundamental problems in the daily operations of your business, changes in other areas may not lead to improvements.

4 Ways to Make Sure Meetings Are Not a Waste of Time

Meetings can be a big waste of time or the biggest time saver. It all depends on your skills of keeping the meeting on track and engaging your staff. The challenges that keep your meetings from being productive include going on way past the allotted time, getting off track, and meetings that turn into gripe sessions. Here are four basics to running an effective meeting that keeps you completely in charge and engages your employees. 1. Set the expectations 2. Acknowledge the elephant 3. Beat the dead horse 4. Engage them Set the expectations One reason meetings get off track is due to negativity. It could be just one drama queen who always has something negative to say, but my bet is that she is speaking for the tribe, and she gets some sort of glory from her peers for having the courage to say what everyone else is thinking.

Say Goodbye to Procrastination - For Good

Procrastination is one of the most common obstacles entrepreneurs encounter on their path to success. It undermines their bottom line, their self-respect, and their chances for growth. If you, too, are delaying the tasks you need to get done, it's time to change the way you approach business. You'll stop procrastinating as soon as you'll begin to follow these five simple rules... Live in the moment First of all, forget multi-tasking - it's so out! Instead, commit to focusing on one thing at a time, channeling all your thoughts and energy into what you're currently doing. By paying close and undivided attention to that one task you're handling, you'll make the most of every moment you spent to complete it.

10 Productive Ways to Capture Your Ideas So You Can Process and Deal With Them Later

Have you ever had an idea that came to you, but you later forgot it? Have you ever thought of something that you needed to do and told yourself that you'd remember, but, uh, you didn't? At any given moment, ideas will come to you. Some of these ideas are major, some are minor, but when you don't capture the ideas, they whirl around in your head, diverting your attention away from the other work or pleasure on which you need to be focusing. The following are possible bins, buckets, boxes, and baskets (and how to use them) so that you capture your ideas for later processing. This leaves your brain open to thinking and working on what is in front of you instead of using it to 'remember' something that you don't need to deal with right now.

Lean, LEED, and Green

A recent article by F. Kaid Benfield illustrates how Lean principles apply to a debate now taking place among Green Building practitioners. At issue is the fact that six recent award-winning LEED buildings are located such that they are largely or entirely dependent on automobile travel for access. Benfield, Director of the Smart Growth Program for the Natural Resources Defense Council, argues that the Green standards developed and promulgated by LEED should place much more weight on the location of buildings in relation to communities, customers, employees, and non-automotive transit facilities. How can a building - even one boasting solar panels, great insulation, and optimized energy systems - claim to be truly Green if everyone using that building commutes there alone in a car?

This Meeting Sucks! 12 Acts of Courage to Change Meetings For Good

Let's face it, most meetings being held right now, and the thousands more scheduled for tomorrow, will be boring as hell and a poor use of time. Why? Because they're not effectively lead. Your average meeting leader and participant alike thinks it's easy to hold a stupid meeting. They're absolutely right. It's easy to hold a "stupid" meeting. Unfortunately, that's the way most of them turn out. And it's because few of us see the importance of "meeting process." We are masters of production, but we tend to neglect "how" we get things done. This has got to change. I say we start a meeting revolution! I'm calling on each and every one of you, no matter how low on the totem pole you reside, to begin a personal campaign to change every meeting you attend.

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