Benefits of Starting an Employee Incentives Program
Many companies the world over utilize some form of employee incentives program to recruit talent, motivate their workforce and drive up productivity. Some of the largest and most successful companies in the world make headlines for the perks and rewards they offer their employees.
Google, Facebook, Boeing, and Ford give their employees access to gyms, special events, day care, catered lunches, awards, and much more. Why do they go through such effort and expense? Simple.
Employees who are happy at work tend to perform better and stay with the company longer compared. By offering advantages to employees, the company builds loyalty in its ranks as well as higher employee engagement.
A 2010 study found that “Organizations that encourage managers to engage employees by making it a performance criteria and rewarding engagement through incentive programs indicate that their organizations more effectively foster employee engagement and motivation then those organizations that do not.”
And the incentives offered don’t have to be something that is prohibitively expensive for smaller companies. Smaller perks such as flexible scheduling, the opportunity to work from home, presenting rewards for meeting performance targets, and recognizing those with many years of service are simple and effective ways to motivate and retain workers.
While not all companies will be able to accommodate flexible scheduling or be able to let staff work from home, simple games or challenges geared toward meeting performance-driven goals such as increased output or reaching sales targets can be implemented as a motivator.
By challenging sales staff, for example, to increase the number of leads generated or workers on an assembly line to raise quality control efforts, you are giving your employees a common goal that requires teamwork and commitment. The reward for them could be a special lunch, movie tickets, or a formal award. The reward for you is an engaged workforce moving toward a common goal in an area that needed to be addressed.
Additionally, recognizing loyal workers for their years of service shows your employees that you truly value their efforts. Presenting a token of appreciation for five or 10 years of employment, can boost morale and motivate other employees to stay on long enough to be recognized for their years of service as well.
Plaques, framed awards, desktop awards, and other employee gifts such as those by U.S. Patent Services Inc. are versatile enough to be used for almost any type of award. They can help you to motivate and inspire your employees to be more productive, take pride in their work, and reward you with loyalty by giving every member of your team the opportunity to be recognized for their efforts.
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