Paying incentive based on performance is natural decision to business strategy. Practically they are shifting some of the rewards investments focus to increase their competitive advantage. This study focuses on companies which pay incentive to high pe...
Paying incentive based on performance is natural decision to business strategy. Practically they are shifting some of the rewards investments focus to increase their competitive advantage. This study focuses on companies which pay incentive to high performers.
The purpose of this study is to examine the value and preference of incentive travel award. Surveys for collecting data were conducted based on the existing literature review and a working-level materials to achieve the goal and 247 valid samples were acquired by the survey performed to regular employees of companies in seoul. The survey was analyzed with frequency analysis, regression and correlation analysis, multivariate analysis of variance(MANOVA) and crosstabs, cluster and correspondence analysis by SPSS(PASW) 17.0 for window.
The implications showed by finding of this study are as follows;
First, The properties of incentive award are Social Reinforcement, Justifiability, Differentiation, Evaluability, Separability and Switching Intention in a order of significant. The properties of incentive travel award is similar with this standards.
Therefore travel is appropriate for incentive award that it is provided in both travel product and travel gift certificate.
Second, The finding showed that companies need to operate a incentive plan to establish the integrated program. The preference of incentive award, including travel, is affected by a characteristic of business environment, a characteristic of employees and particular price levels and types of award.
Third, incentive system is the way of motivating employee and increasing productivity. Greater differentiation of top performers allows employers to attract and retain those employees that will contribute to the company’s competitiveness and success.