Why Businesses Should Offer Tangible Employee-Based Incentives
There are many options a company has when investing in employee motivation. In fact, business managers should incorporate employee recognition into their daily routine to keep morale high. This is one of the many examples of intangible employee motivators that work so well.
But while intangible incentives make up a huge part of employee engagement schemes, they can’t completely finish the job. At the end of the day, businesses need to offer fresh, tangible incentives to spark boosts in employee motivation.
A recent Fast Company article discusses employee motivation and the effect of tangible incentives. The article offers a few suggestions as to what a small business can offer its employees:
“Motivation is a key factor in seeing continued growth from the same team year after year. There are always the tangible and experience-based incentives you can offer, such as bonuses, big-money prizes, vacations, or tickets to a sports game or concert. Job-related incentives could include additional time off, flexible scheduling, or a new tech gadget.”
These incentives all have one thing in common: value. The idea behind them is that they will motivate employees to work to new levels to achieve them. This attitude is completely different than giving occasional compliments to employees for doing a good day’s work.
If you’ve decided that tangible employee-based incentives are something you’d like to offer, there are a few steps you need to take. Businesses have to decide upon their budget, how many incentives they will offer, what the incentive will be, and how employees can achieve it.
This may seem like a lot of work, especially when a business is starting from scratch. With the assistance of an incentive company, the brunt of the work is lifted from the business manger’s shoulders. Instead, the manager can simply work with the company to pick an ideal incentive. They can bounce ideas off each other and see which would world be best. Afterwards, the logistics, planning, and execution are taken care of by the incentive company.
If you would like more information about employee motivation or an incentive company, contact us