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

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Testimonials

  • Evan Polin
    Sandler Training

    "I've been working with Bruce and his team on two projects and they've been great to work with. Bruce has helped us set up a referral/incentive program for us to roll out with our clients and strategic partners. Bruce was great to work with. He's set up a 7 tier program that allows for flexibility and he's also helped us to market the program."

  • Kevin O'Keefe
    Vice President World Wide Sales, Maginatics, Inc.

    "Beverly arranged and managed the early Envivio Sales incentive trips for us. Each of our events was an outstanding and motivating experience Our Sales team appreciated the attention to detail and to fun. Qualifying for the "trip" was a motivating factor behind many end of year sales pushes. I will use Beverly again in the future."

  • Mickey Poorman
    Laird Technologies

    "Peak Performance’s attention to detail and personal service made me feel like I had a true corporate meeting planning partner that I could rely on throughout the planning process right up until I was on site. I look forward to doing more meetings with them."

  • Marco Lopez
    C& J Energy Services, Inc

    "I have used your services two years in a row and you all have made my vacation a great one. You have the most helpful and considerate employees. Always very friendly, respectful and willing to make my travel experience a good one. Thank you and keep up the great job."

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