By now we all know how important reward and incentive programs can be in retaining and engaging employees on the job. The trouble is finding incentives that connect with and motivate your team to put in the extra effort to achieve company goals, as well as retain your top performers. There are many reward programs out there, but the following top ten list will highlight those rewards that employees want most.
1. Gift cards
Unlike cash bonuses, which often get used by employees for essentials like braces for their teenager or a needed car repair, gift cards for Starbucks or a five star restaurant feel like real treats. Consider offering several options of popular gift cards to ensure your employee selects something they will value and enjoy.
Experiences in exotic new places, whether with a work team or with one’s spouse, are once in a lifetime opportunities that employees find extremely valuable. Offering global travel incentives with help from experienced staff at Docherty Incentives & Meetings can ensure your rewards program runs smoothly and connects with company goals.
3. Merchandise from Point-based Rewards
Employees who rack up points for exceeding sales goals, attending safety meetings, or participating in a wellness program can cash in their model behavior for merchandise. Online catalogues offer a variety of rewards that will get your employees excited—ranging from a new TV, iPad or gas grill for their upcoming summer BBQ party.
If your team is pushing hard and working overtime to finish a project, staff members may not have much time for basic responsibilities in their personal lives. Gifting services, such as house cleaning, laundry service, lawn care, or maintenance help, can help employees feel supported in their life outside of the job.
5. Peer Recognition
Who doesn’t like hearing praise directly from their coworkers? In this low-cost incentive strategy, peers may use social media or prominent bulletin boards to post notes to show recognition. Celebrating stories of accomplishment and achievement will give employees an added boost, helping them stay focused and engaged at work.
6. At Work Perks
Who doesn’t like a reserved parking spot or first dibs on office selection? Finding creative ways to honor top employees at work can motivate your staff to reach their targets. Some companies offer stress-busters for their employees like yoga or dance classes onsite, which helps their staff have fun and bond with coworkers.
7. Plaques or Trophies
Some employees are motivated by physical reminders of their performance. Consider giving a plaque or trophy to employees who embody the spirit of the workplace or who exceed sales goals. You can also incorporate healthy competition and gamification by encouraging sales teams to vie for the honor.
8. Educational Opportunities
Help employees hone their skills and develop their creativity by offering full or partial reimbursement for educational courses. Whether your employees are working on a degree, engaging their passion for taekwondo, or learning new computer skills, they are sure to appreciate a company that values their pursuits in and outside the workplace.
9. Family Events
When an employee welcomes a new child into their family or mourns the loss of a parent, your company has a unique opportunity to show you care and to support them during a time of transition. Gifting a diaper service for the new parents or sending flowers after the funeral are all personal touches that will matter to your employees and help foster company loyalty.
10. Extra Vacation Days
Extra vacation days: they’re a real thing. Consider rewarding extra vacation days to employees who perform beyond expectations. Some companies offer days off for staff who use their time away to volunteer in the community, which communicates an organization’s core values and helps employees connect to ventures that are important to them.
If you give your employees the royal treatment, your company will pay the dividends with a highly engaged, productive workplace. Whatever reward or incentive you choose, the professionals at Docherty Incentives & Meetings can help you implement your program in ways that maximize impact for any company budget. Whether it is the enticement of a gondola ride in Italy or the lure of a Starbucks latte, your staff will be motivated and feel appreciated by your efforts to reward and incentivize their work.