Jeremy Goldstein Talks Incentivization, And What Corporates And Employees Can Do To Reach A Common Ground
No matter what corporate, every employer wants to create a good work environment for its employees. People working in companies and businesses are doing so with the prospect of sustaining themselves and being in a good place in life. But when an employee works for the company, that’s not the only thing that they are looking for. They also want to work for a place that would appreciate the work that they do and give them a few incentives that they can enjoy their labor.
The topic of incentives is a rather controversial one. There are no guidelines and provisions for its implementation in a company, unless otherwise specified, which is what makes the task of offering it harder. If it is left up to the discretion of the company itself, instabilities in the offering of these incentives may arise, leading to workplace hostility. Corporates can also hold incentives for employees that they favor less as compared to others.
The employee too is not completely innocent when it comes to incentives. The exorbitant demands can sometimes lead the company to other arrays, thereby leading to more tension at the workplace. The company, especially if it is a small business, may want to offer incentives to people, but often feel like they cannot fulfill the demands for incentives that the employees put forward. Learn more: https://www.slideshare.net/JeremyGoldstein14/22nd-annual-naspp-presentation-2014
Several corporates all over the world have sought to implement ways in which these problems faced can be kept to a minimal amount, while still being able to offer something to the employees working for them. Things like EPS have come around as the solution, and more and more corporates are choosing to go down that route.
Even though this implementation may seem like something for the benefit of the employees, it is by no means perfect. As Jeremy Goldstein, a prominent corporate lawyer from New York pointed out in a recent article, corporates can sometimes use this system to deny the incentives altogether since no parameters for giving it have been laid out. This system may let the customer know the amount that they stand to make but can sometimes lead to more hostility if it isn’t given in due time.
In the article, Goldstein mentioned that one of the best routes for a company to take is to reach a position of compromise between them and the employees, so as to ensure that both sides are satisfied with what they can receive. Goldstein, having worked with a large number of corporates through the course of his career, is well versed with the problems that people face, and the steps that they need to take to come to a resolution that works out and fulfills its purpose.