Featured in People Management recently (12th February 2009) was an article titled; “Recession leads firms to rip up their reward strategies”. It mainly featured BMI as a business and the affects it was feeling from the union Balpa due to the incentive schemes being designed in the better days to reward staff. Surely in the current climate it is still as important as ever to reward staff and try to use this as a chance to become a market leader?
We all know that out of every recession businesses become stronger as they have to rely on real business knowledge to get through the difficult periods. Therefore, is this not the time when true HR professionals show their true colours and skills using such things as incentive schemes in a different manor? Why can’t good, effective incentive schemes reward employees by getting them to reduce team expenditure and therefore reducing the cost of the bottom line? I believe that many employees are used to HR schemes being introduced by businesses, lets be honest, a couple of years ago HR professionals worked hard at selling schemes into businesses and proving there worth. This in mind, surely it wouldn’t look good when in times of difficulty the schemes were retracted. How will HR professionals ever be able to be taken seriously in the future?
Let’s prove that HR does affect the running of a business in any situation and think of effective incentive schemes that still work for the employer and the employee. We just need to think outside the box and make incentive schemes incorporate aspects of the business that would not necessarily be used if we were trying to drive the business forward.