Employee IncentivesAugust 24, 2016 8:54 am
Research shows that feeling appreciated- which comes from recognition from others- is one of the top drivers of employee engagement and retention. Showing appreciation can come in many different forms depending upon your field of specialty. Pay raises, promotions and Employee Appreciation Days are far from the only ways to motivate and supply incentives to your team. More than half of America’s companies use incentive programs spending over $77 billion annually on them. Here are a few monetary and creative approaches.
- Be Flexible – With so many employees with families and responsibilities outside the office, a great reward is flexibility. Since not every employee fits into the 9-5 environment allowing for flexibility is a way to boost morale, as well as show your employees how much their hard work is appreciated. Flexibility may mean flex hours or possibly even remote work. This flexibility may mean that your employees can cut back on child care or even allow for more time with children in general. Flexibility costs nothing and can reap major rewards in the long run.
- On-Site Rewards – Making your office into a place team members want to be is an incentive that employees will really appreciate. Ideas for this could range from a coffee cart on Fridays or a membership to the gym next door. Some very creative companies have installed game rooms or nap pods where employees can relax during breaks. This may seem counter productive to getting the work done but research says that these additions and incentives increase productivity.
- Call Outs – Everyone likes to be recognized for hard work or a job well done. “Call out” to team members who have done a great job during staff meetings or on an employee bulletin board. Recognizing an employee who has done an outstanding job could be in the form of a thank you note, a gift card or some other reward. Some unique ideas for rewards include featuring the employee in the company newsletter, giving priority parking for a month, arrange for a lunch in their honor or plan an “appreciation day” for those who go above and beyond the call of duty.
Perks whether they are financial or creative in nature are worth the time and effort as they will boost morale and possibly productivity. Give creative incentives a try in your office.