To attain More incentive income and profitability, the Branch should strive to attain better deposit mix(CA+SA+TD) at the Branch rather than the Total Deposits. If you agree to the statement, validate it by sharing your discussion. If you disagree, discuss with your contentions.
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An effective incentive program has a clearly defined goal, establishes rules, makes rewards visible, focuses on goal commitment, embraces competition and leverages risk, among other aspects.
Explanation:
When using monetary incentives remember that the money-board, so to speak, really depends upon a great deal of visibility. Think about national lotteries and the power behind those dollar amounts. Present your reward as another badge of honor to hold up. At the end of the program, don't forget to communicate the results with your audience. Share how the program impacted company performance and celebrate both individual and team achievements.
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