Incentivize Your Team
People, by nature, are motivated by rewards. We want to be recognized and will often work harder to attain accreditation. Therefore, it follows that an incentive program for your company is a great idea to stir up motivation amongst your staff. Studies show that a strong incentive program promotes engagement in employees as well as an improvement in work quality. A top-notch incentive program will also boost morale, creating a more pleasant work environment for all.
All incentive programs are not created equal. The secret to success is found, not only in the structure of the program, but also in how well it fits your business and employees.
So, what makes an incentive program effective?
Effective Incentives are Strategic
A strategic, intentional incentive directly links to a specific or measurable achievement. For example, people thrive on competition, so offering extra vacation days to the employee who has the highest sales is specific, measurable, performance-based, and taps into human nature. On the other hand, while awards for service anniversaries, or surprise bonuses for the extra effort in big projects are more a token of appreciation, knowing of the possibility can still incentivize your employees. It shows your people you see the elbow grease they put into your company.
Effective Incentives are Beneficial
A beneficial incentive appeals to the employee’s needs and desires. After all, isn’t the point of an incentive to motivate your employees – to stimulate bigger aspirations. Then use incentives that show you care about who they are, their goals, dreams, as well as their everyday preferences. Let’s put it this way – would the employee that rides the city bus and uses his vacation time for attending the nearest MLB games prefer a $100 gas card or game tickets. (Tickets? Yes, please!)
Effective Incentives are Sincere
The heart behind a sincere incentive is genuine recognition and gratitude from you as an employer to your crew. Your band, your cohorts, your squad, your posse. Your team. (And not the armed enforcing sort – no, the “common occupation and purpose” sort.) Whatever it is that you call them, they are (hopefully) doing their best day in and day out to represent you and your business well. Their assiduity and industriousness make your company tick. A sincere incentive that is small but genuine will mean so much more than a large reward tritely doled out. And don’t ever forget the power of praise! Because who doesn’t love a compliment?
Examples of Incentives:
Of course, the type and size of incentives vary from business to business, but here are some possible ideas.
Cash – The Old Standby! Name one person who doesn’t like to get extra cash!
Gift Cards – Almost as easy to spend as actual cash dollars…and lots of fun.
Experiences – Concert tickets, movie tickets, theme park passes – you name it. Especially appreciated if the employee has friends and family to share it with!
Ride-share Credit – Because who doesn’t need a Lyft?
Subscriptions – Audible, Netflix, Amazon Prime – all things that people love using. A lot.
Electronics – What about a fit-bit? A great reward – also promoting health and well-being.
Extra Vacation Days – Paid, of course.
Team Excursions – Did I hear the sound of crashing bowling pins?
A Reserved Parking Spot – For a month – personalized sign included!
Honorary Titles – For sure, “Employee of the Month” is a great one, but what about, “Best Encourager” or “Humor Extraordinaire?”
An Extra Casual Day – Everyone knows the “Jeans/Denim Friday” is the best day of the workweek anyway!
Gifts – Wrapped. With a bow.
The list is endless. Why not ask your team and see what they think some great incentives would be. Invest in them and then watch your investment grow!
Looking to build your team? ERG Staffing seeks to serve both clients and candidates, focusing on creating mutually beneficial connections. When you partner with ERG Staffing, you are getting over three decades of experience and dependable service. Whatever you need, whether it is temporary assignments, temp-to-perm, on-site services, payrolling employees, or direct hire, ERG Staffing offers flexible partnership models to meet your unique needs. We take care of the headaches of recruiting and hiring, so you can focus on your business. Contact us today.