If you have employees that need an incentive plan to work, then you probably have the wrong employees. The best organizations understand this basic concept. In Good to Great, Collins conceptualizes this concept as getting the right people on the bus in the right seats and getting the wrong people off the bus. The importance of this process is greater than the direction of the bus. The right people will help decide the direction that your organization needs to go. And they will do this naturally. The right people will take your bus to awesome places. But the wrong people will not, regardless of the incentive system.
The compensation of your organization should serve to attract and retain the right people for your organization. Once the right people are hired, incentive is unnecessary. The right people will do their best, simply because they are not capable of doing anything less.