Employee Incentives – What’s the Point?
In today’s volatile employment sector, companies should be thinking of new ways to keep staff motivated, committed and challenged. And with all the recent layoffs, you want your employees to feel that their work is recognized and important. Yes, they are lucky that they have a job, but they are shouldering much of the work that may have been done by a much larger team in the past. Little incentives go a long way to remind them that they are appreciated. They want to know that what they do MATTERS.
So what can business owners do to provide motivation to their staff, and show that they are appreciated at the same time?
Set up an Employee Incentive Program.
What Are Incentives?
Employee incentives are exactly that, items that the employees have to work towards to receive. It’s the proverbial carrot. If you want your employees to work a little harder, faster, better, whatever, this type of program can work for you.
There are many types of incentives, such as clothing, electronics, gadgets, office items, blankets, etc. The list is never ending, but the best employee incentives are those that fit naturally into their job descriptions, distinguish them among co-workers and highlight their accomplishment.
Reward levels can be set for various levels of achievement. Or for major milestones in your office such as a move to a new floor, reaching a large sales target, new management, a company anniversary. Determine what types of items your employees will value and work towards and add them to your incentives program.
What Will It Cost?
The rewards don’t have to be substantial. Employees are generally happy to have some sort of recognition, so even offering small rewards on a regular basis are worthwhile. Something as simple as monthly prizes for good attendance or for showing extra effort on the job may be in order (depending on your industry and your employees).
Does It Work?
An essential part of running a good business where staff is happy and committed is to keep them interested and engaged. You’d be surprised what people will do for a reward. It gets them motivated, gives them pride, and may keep them on your payroll longer, so why not try it?
If you would like more information about setting up an awards program for your business, simply click on the green button below.