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Looking for a good incentive program for staff accountants

Amy Lourenco's Profile

I want to implement an incentive for a staff accountant who can take on more work than their co-worker. I have a staff where some staff accountants are stronger than the others and I want to reward them and implement an incentive program. Does anyone have any ideas?

Answers

(Agent, JKS Solutions, Inc.) |

Sounds like they are working above their pay grade or doing the work of more than one job description. Probably needs a base pay increase. Bonuses are for above and beyond.

Stephen Glenn
Title: Controller
Company: Pierre Frey, Inc.
(Controller, Pierre Frey, Inc.) |

Is the staff accountant doing more work, or doing more difficult/advanced tasks? If the latter, then perhaps they could be promoted to senior accountant with an increase in base pay.

Ted Monohon
Title: VP -Finance / Controller
Company: Fantex
(VP -Finance / Controller, Fantex) |

If you are looking for incentives, those vary with the individual. You need to understand what motivates each person on your team. Some like money (but not everyone), some like public recognition i.e. accountant of the month (others hate it), some like time off. Some just like a "thank-you" and a good performance review. It is hard to get a "one incentive fits all" solution. A more difficult task in my experience is measuring that over-performance and setting the goals for achieving the "incentive".

Good luck

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