Four Great Employee Incentive Program Examples
Human capital is the most valuable resource in any organization. The employees and staff that run a company or organization have the power of its success or failure, so keeping them motivated is imperative to the livelihood of the business. Employee incentive programs are also effective ways to keep the company running smoothly and maintain its members productivity. Employee incentive programs are a small step that bring an excellent return on the company’s investment.
1. Verbally Reward Them. Verbally and publicly acknowledging the outstanding value that your employees bring to the company is the simplest way to motivate them to do their best work. Take every opportunity to thank them for their service. Be specific. Make note of an achievement of each of your employees on a regular basis. Mention these achievements in staff meetings, during performance reviews, or in a company-wide email. This is one of the most cost-effective ways that you can motivate your staff and provide them with an incentive to perform well at their jobs.
2. Give Them Time. Nothing is more valuable to your employees than their time. Periodically reward them with a “free” day off (in addition to their regular sick or personal days) for excellent performance or meeting a company goal. Don’t forget to reward members for intangible acts that add value to your company. Reward them for excellent attendance, above-average cooperation in group projects, or positive interaction with a client or vendor. Publicly read aloud any letters of commendation that they have received to give them the support and admiration of their peers.
3. Create a Zen Space. Stress is cited as one of the main factors that decrease productivity and increase sick days in an office environment. Designate an empty office or space and create a stress-free zone within your company. Outfit your mini-spa with relaxing music, dim lighting, candles, and comfortable furniture. Allow your employees to take a small block of time in the mini-spa to relax and release tension. This will allow them to recharge their batteries and return to their tasks with a fresh outlook.
4. Get Personal. Your employees have lives outside of the office. Recognize their value as members of not only your organization’s team, but as members of the community and of their individual families. Acknowledge them on their birthdays, reward them for performing volunteer work, and host company events that include their families. Appoint one person in the office to record and acknowledge their children’s and spouses’ birthdays.
Everyone needs a mental lift every once in a while. By acknowledging the value employees add to your company and utilizing these employee incentive program examples to keep them motivated, you will see your company’s productivity and overall morale increase.