The Power of Employee Incentives

By Katie Burns

Jul 30 2018

At the 2017 Silicon Y’all SaaS and Digital Media Summit, Matt Hamilton of Summit Partners shared insight into employee incentives as a great method of motivating employees to achieve desired business results. There are various types of incentives, each with its own unique way of influencing employee behavior. When used effectively, these incentives can have a positive effect on the overall success of a business.

The Power of Employee Incentives:

1. Incentives provide motivation: To develop effective incentives, employers must understand why people do what they do, which in turn helps them understand how to get employees to do what they want them to do.

2. Incentives set direction: Incentives help employers effectively communicate the strategic and tactical goals of the firm.

3. Incentives are “always on”: Incentives never take a vacation – and are often the most consistent and reliable managers.

 

 

Related Posts

Should You Let Customers Pause a SaaS Subscription?

Mar 14 2019

What happens if a customer asks to pause their subscription? It’s something founders and executives don’t normally think about as they plan their SaaS pricing, packaging, terms & conditions, and cancellation processes. A request to pause a customer’s subscription is a bummer, of course. It’s a ding to your MRR, and who even knows how to account […]

Read More…

What to Expect When You Are Expecting SaaS Due Diligence

Apr 18 2019

If you’re expecting to give birth to a deal in SaaS, you’re expecting due diligence. And if you haven’t been through it before, SaaS due diligence may be more burdensome than you might think. Then again, maybe it will be less onerous than you’re expecting. I seriously doubt the latter, but anything is possible. Your […]

Read More…

What Should a New Sales Leader Focus On?

Jul 11 2019

I’ve been interviewing a lot of candidates for Director of Sales lately, and there is one question I always ask. “What will you focus on in your first 90 days?”. Of course, the obvious answer is “results”, but there is a lot more to it than that. There isn’t one right answer to this question. […]

Read More…