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Incentives are more than just perks—they are a fundamental driver of economic growth, job performance, and societal well-being, especially in emerging economies.
With unstable job markets, fluctuating business cycles, and limited social safety nets, incentives at the workplace play a crucial role in keeping employees motivated, engaged, and productive.
But the impact goes beyond just businesses. Why sales incentives are important isn’t just a corporate discussion—it’s an economic necessity in regions where workforce motivation directly influences business sustainability and overall economic stability.
Whether it's performance-based pay, skill-based bonuses, or health-linked incentives, well-structured reward systems can drive efficiency, support economic resilience, and even improve public health outcomes.
In this blog, we will explore the far-reaching effects of workplace incentives on job performance, business cycles, and population health, highlighting why the right incentive structures are key to sustaining growth in emerging markets.
Why are incentives important in the workplace?
Los incentivos son formas que tienen las empresas de impulsar el crecimiento y motivar a sus empleados para que trabajen duro. Al ofrecer un incentivo o una recompensa, los empleados adquieren una sensación de logro una vez que han alcanzado un objetivo.
He aquí las principales ventajas de los incentivos en el lugar de trabajo:
1. Increases productivity
Productivity drives business, so what drives your employees to be productive? Appreciation, acknowledgment, and reward. Incentives offer something for them to work towards, helping them to hit targets and achieve goals. Thereby, it increases their motivation and productivity.
While not everyone will respond the same way to an incentive, it still sets a precedent for rewarding positive behavior and good work. Give incentives to employees for increasing productivity.
2. Decreased employee turnover
Ofrecer incentivos por alcanzar los objetivos de ventas mata dos pájaros de un tiro. En primer lugar, son estupendos para aumentar la felicidad y el bienestar de sus empleados. Les permite desahogarse, ganar premios y seguir siendo felices en el trabajo.
Esto puede motivarles a permanecer más tiempo en la empresa. Así pues, estas ventajas mejorarán la retención de los empleados y evitarán que busquen trabajo en otra parte, con lo que se evitará un alto índice de rotación. Esto es estupendo, porque una alta rotación de personal puede dar mala imagen de su empresa.
3. Attracts new talent
Glassdoor put out an article on the best benefits to provide your employees where 57% of candidates reported that incentives are one of their top considerations when looking at job offers. So, incorporating incentives into your job benefit plan can be a powerful move that attracts top talent to your company!
4. Team culture
Los incentivos y las recompensas de ventas pueden incluir viajes de unión de equipo que refuercen las relaciones entre los empleados. Múltiples personas podrían ganar y asistir a ellos, alimentando una sensación de logro y progreso mutuos.
McKinsey claims that productivity improves 20-25% in a company with connected employees. So, incorporating these types of team-building incentives will strengthen those relationships and contribute to better work culture.
Why an incentive delayed is an incentive denied?
Imagínese que espera con impaciencia un paquete de incentivos y le dicen que ha habido retrasos y que tendrá que esperar dos o tres semanas más para recibirlo. Te sentirías decepcionado, ¿verdad?
A menudo no comprendemos la importancia de los incentivos. Por eso, retrasar los incentivos no es justo para los empleados que trabajan duro para alcanzar sus objetivos. Cuando esperan una recompensa por todas las horas que han dedicado a un proyecto y no la reciben en un plazo razonable, se minimiza el logro. Luego, cuando por fin reciben su recompensa, puede que no la sientan relacionada con esos objetivos que habían alcanzado semanas atrás.
Esto no refuerza el comportamiento laboral positivo, y los empleados no se sentirán tan motivados para completar ciertos hitos al saber que no serán recompensados inmediatamente. Así pues, un incentivo retrasado es en realidad un incentivo denegado.
Let’s explore this concept a bit deeper and discuss its reasons.
1. ASAP economy & instant gratification
The increasing digitization of business processes leaves no room for delayed gratification. In this day and age, we want things, and we want them now. With online shopping and apps that allow us to do almost anything at just the touch of a button, we’ve seriously gotten used to doing things and receiving the benefits instantly.
Because of this, we’ve come to expect instant gratification in all aspects of our lives - including in the workplace. It’s such a primal, natural response to have. We complete a task, get rewarded, and feel accomplished and satisfied.
Without having an enjoyable reward to look forward to when reaching a goal, your employees probably won’t feel as motivated to get to that point and, therefore, won’t be as productive.
So, businesses should be moving towards a no-delay incentive scheme and closing the gap between performance and payout. This will improve employee engagement in the workplace, and, by extension, they will contribute more effectively to business objectives.
2. Biological reactions
The human desire for instant gratification is driven by our primal instincts, which prioritize short-term pleasure. Adrenaline drives humans to reach their goals. This is only fueled by the impulse of instant gratification as it releases dopamine - the body’s ‘happy neurotransmitter.’
When the brain anticipates a reward or accolades, such as sales incentives rewards, it stimulates dopamine production. This chemical is associated with the cycle of pleasure, motivation, and reward—an individual experiences a rush generating alertness and positivity.
When incentives are delayed, employees don’t get that rush of dopamine that makes them feel good. So, they won’t correlate their hard work with feelings of satisfaction and won’t be as motivated.
Without the excitement and suspense of working towards a desired reward, there’s nothing to really look forward to. There’s no drive to complete the task at hand.
Our instinct that craves compensation in real-time can even be traced back to our caveman days. Our ancestors rarely knew when they were getting their next meal. They had to act fast and live in the moment.
Por eso, ofrecer las recompensas a tiempo es crucial. Si no lo hace, sus empleados no experimentarán la misma sensación positiva y su programa de incentivos probablemente no tendrá tanto éxito.
3. Building relationships
El comportamiento impulsivo define cada vez más los planteamientos empresariales, las estrategias de producto y la experiencia del consumidor. Es la naturaleza humana. Piense en cuando hace clic para saltarse un anuncio de YouTube antes de tiempo. Ahora, póngase en la piel de su equipo de ventas. El incentivo es el vídeo y el retraso es el anuncio. Ahora tiene sentido, ¿verdad?
Instant incentives foster a culture that is open, interactive, and healthy. For example, one study found that immediately rewarded people for completing tasks felt more motivated and productive overall.
Even when the rewards were removed, they were still more engaged and interested in the work. This proves the positive relationship between instant gratification and motivation.
Anticipating things within a certain time frame adds structure and discipline to the lives of your employees. Also, quick incentives can cement trust, reflecting the value of an individual’s work.
Honra y reconoce directamente el servicio donde es debido. Así, como empleador, valida una promesa hecha en el marco de un contrato, lo que le convierte en alguien en quien se puede confiar.
Los líderes sabios entienden que la clave para motivar a un equipo es implicar a sus empleados con incentivos oportunos. Así se construyen relaciones mejores y de mayor confianza, lo que contribuye a un entorno de trabajo más feliz y a una mayor satisfacción laboral.
4. Avoid delayed incentives
We live in a fast-paced, data drive world. Therefore, incentive management must be dynamic, effective, and proactive to provide value and efficiency to a business.
While a quickly dispersed incentive gives employees a spring in their step, a delayed one sucks the joy out of work. You can’t overlook this critical difference if you want to motivate your employees successfully.
Con un programa de incentivos bien pensado y el uso de un software de incentivos, puede asegurarse de que sus empleados nunca se queden sin sus incentivos. Con la automatización de incentivos, ya no tendrá que dedicar su tiempo a cálculos y pagos manuales.
Con el software de incentivos, puede configurar y gestionar fácilmente su programa de incentivos. Elimina el riesgo de errores en el cálculo de los pagos y su distribución a los empleados.
Automated solutions can streamline incentive programs entirely. This conserves time and increases payment accuracy so businesses can focus their resources on other important matters.
It also makes the incentives easy for your employees to redeem so they never have to wait around to be rewarded for their hard work. From digital gift cards and entertainment tickets to travel and straight cash, having incentive software helps you give your employees what they want.
Streamlining your incentive program is excellent for business and ensures that you never deny your employees their incentives.
Turn incentives into business growth with Compass
Incentive compensation is crucial for aligning employee performance with organizational goals, especially in emerging economies where motivation directly impacts productivity and economic growth.
Compass offers a comprehensive solution to design, implement, and manage effective incentive programs that drive results.
Key Features of Compass:
- Automated incentive management: Eliminate manual processes and reduce errors with automated calculations and timely payouts, ensuring employees are rewarded accurately and promptly.
- Real-time performance tracking: Gain insights into employee performance with real-time data analytics, enabling swift adjustments to incentive plans for optimal outcomes.
- Customizable incentive plans: Tailor incentive structures to meet specific organizational objectives and employee roles, fostering a culture of motivation and achievement.
Integrating Compass into your organization's strategy can enhance job performance, stabilize business cycles, and contribute positively to population health in emerging economies. This strategic approach to incentive management benefits individual employees and drives overall economic development.
Lo esencial
Employee incentives take up a large portion of a company’s budget, and with good reason! They are essential in rewarding your employees and showing them appreciation for their hard work. Thus, your employees stay positive, motivated, and more willing to give 110% back to a company that values them.
Delaying this gratification process severs the tie between hard work and reward. The two are no longer connected in the eyes of the employee, and their motivation takes a nose-dive. This is why incentives are delayed and denied.
Thus, it’s up to you to ensure that you have a good incentive system in place to keep your employees motivated and productive.
