Employee incentive program pays off, according to the International Falls Journal.
Karen Punch, Boise, Inc. communications manager, was pleased and proud to announce that the company’s performance record for 2009 “was one of our safest years on record.” (1) Along with this, she explained that part of the overall benefits of safe operation was the ability to maintain financial stability and even grow amid these trying economic times.
The International Falls Journal reported that, “In addition, the company recorded $382 million in free cash flow, according to Punch, and reduced its net total debt by $345 million, or nearly one-third of its 2008 total.”
The Idaho based paper manufacturer’s prior incentive program was revamped. The rewards are now designed to “reward employees for their contribution to company performance, specifically safety and financial goals.” The new program allows for employees to be rewarded on a monthly basis rather than annually. In addition, employees are rewarded based on location specific goals that are met.
With the company’s incentive program, all employees are eligible to participate in a number of safety and even operating areas. An employee might “conduct behavior-based safety observations; participate in a safety audit, led by the safety department; lead or develop safety training; lead a safety meeting; be a volunteer safety coordinator.” They also have the opportunity of participating in a number of other goal setting projects.
Punch assured the paper that she is sure the company will use its strengths to move forward and grow with perseverance and motivation.
The Occupational Safety Hazard and Health Administration (OSHA), an arm of the Labor Department, works diligently to ensure the safety of employees throughout the nation. According to the Wall Street Journal, OSHA is in the process of “pressuring state agencies to follow national programs which target specific industries and safety concerns.”