Top 3 Tips For Providing Incentives to Your Filipino Staff
Aside from understanding and learning how to better communicate and work with a Filipino remote team, employers should also know how to properly compensate their teams through incentives and bonuses.
Here are a few tips on how you can provide your Filipino staff with great competitive incentives and bonuses:
Standardise Salary Rates and Incentives
Even if it’s against company policies or the law, Filipinos will not hesitate to discuss their salaries with close colleagues. Others will feel disadvantaged or shy and choose to not speak out instead.
This might raise concerns about fairness and equality regarding employee treatment. Situations like these may lead to different scenarios such as a staff deciding to move to another company or grabbing another opportunity available.
It’s best to create a standard system or guidelines of how salaries are evaluated and determined so they’ll have a better idea of what to expect rather than hearing it from hearsay or basing it from their own expectations. Setting guidelines will create and promote an equitable environment as the company grows. Make this a part of the process of how employees are promoted for their performance or loyalty to the company.
Implement Regular Salary Appraisals
Companies, especially those who are not in a financial position to give regular salary increases and promotions must still conduct regular appraisals for their employees to ensure that both parties are on the same ground regarding how they are compensated or rewarded for their work.
Monthly or quarterly appraisals is a systematic approach to help manage employee expectations. It will give you a chance to provide your employees with feedback on how they
can improve their work and achieve their desired salary. This will also ensure that everybody gets the same fair chance of getting incentives and a pay raise.
Develop a Strategic Reward System
After establishing standards on how compensations are given, you should also be able to create a rewards system and give bonuses to celebrate and recognize those who are performing beyond expectations. Bonuses may be mentioned but are not part of the package and compensation initially offered to the employee upon signing with the company.
Depending on the nature of their job, bonuses may be offered if they reach certain key performance indicators(KPIs) or quotas. These bonuses will give employees extra motivation to perform better. It makes a positive impact on the way they see and appreciate their jobs and you as their boss or employer.