The Society of Incentive & Travel Executives has completed a comprehensive study on the link between incentives, motivation, and performance in the workplace. The study, conducted over the course of a year, found that incentives dramatically increase individual performance by 27 percent. Other results:
Programs aimed at teams increase performance 45 percent.
92 percent of workers surveyed indicated that they achieved their goals because of incentives.
57 percent of corporations surveyed reported that objectives were met or surpassed.
Incentives structured with employee input work best; however, only 23 percent of incentive systems are selected with employee input.
The most effective incentives extend beyond a year.
