An old legend once said that shortly after Adam was created, he complained: “O Lord! You have given the lion fierce teeth and claws, and the elephant formidable tusks; you have given the deer swiftness of legs, and the turtle a protective shell; you have given the birds of flight wings, but you have left me altogether defenseless.” And the Lord said unto Adam, “I shall give you an invisible weapon that will serve you and your children better than any weapons of fight or flight, a power that will save you from even yourself. I shall give you the sense of humor.” (Wilson, 1996).
An effective employee incentive program is necessary for business to remain competitive in day and age. Many companies spend a great deal of money on their retention strategies, which concentrates on various ways to instill loyalty among employees. A great way to ensure low employee turnover is to offer higher pay, but higher pay does not always guarantee employee alignment with the company’s priorities. In order to encourage this alignment, an incentive plan should be implemented.
