Are you looking for ways to increase productivity in your office? If so, you’re not alone. Many business owners are always searching for new and innovative ways to get their employees working harder.
However, employees should feel valued by their employer, and the best way to do this is through incentives. So, with that in mind, this blog post will discuss 10 different employee incentive ideas that can help boost productivity.
Keep reading to learn more.
Why Are Employee Incentives Important?
Before we dive into the different employee incentive ideas, it’s essential to understand why they’re important. After all, if you’re going to invest time and money into creating an incentive program, you want to make sure it’s worth your while, right?
There are a few reasons why employee incentives are so important. They include:
- Improving employee morale
- Recognising the accomplishments of your workforce
- Increasing employee retention rates
- Attracting talented employees
- Boosting productivity
According to Reward Gateway, seven in 10 employees feel their boss should motivate them more, and unmotivated employees are more likely to suffer from low moods and a lack of concentration. Studies also suggest that their work quality will decrease.
When employees are working towards a goal or prize, they are more likely to put in a lot of effort, so make sure you offer a range of incentives that can benefit your business and facilitate quicker growth.
10 Incentives That Always Deliver
There are many ways to encourage your employees to meet their targets, but the incentive you choose should align with your company’s culture and cater to your workforce’s preferences.
For example, a group of corporate accountants might not necessarily want a music subscription and would prefer book rewards.
Let’s take a look at the best incentives.
1. Offer Stock Options
Stock options show your employees that you value their contribution to the company, and it also gives them a tangible financial stake in the business.
While stock options are an excellent idea, more prominent companies usually offer them.
However, if you want to foster a genuinely productive culture, offering your employees equity in the business could be beneficial.
2. Performance-Based Bonuses
Monetary bonuses are always popular with employees as they’re directly linked to productivity. When employees know that you’ll reward their hard work, they’re more likely to go the extra mile.
However, you need to make sure that your targets are realistic and achievable; otherwise, your employees will become frustrated.
3. Additional Time Off
If your employees hit their targets, why not let them leave early on a Friday or take an extra day off? It’s a great way to show your appreciation, and it also gives employees something to aim for.
Some companies call additional time off ‘duvet days’ because they’re essentially an opportunity for people to relax, watch TV and enjoy a day away from the stresses of the office.
4. Gift Cards and Vouchers
Gift cards and vouchers are always popular with employees because they can use them to buy whatever they want.
Whether it’s a new pair of shoes or a meal at their favourite restaurant, your employees will be able to treat themselves with a gift card or voucher.
5. One-on-One Time With the Boss
Having one-on-one time with the boss is the ultimate incentive for some employees. It shows that you value their opinion, and it allows them to share any concerns or ideas they have.
If you can spare the time, this is definitely an incentive worth considering.
6. Charitable Donations
Making a charitable donation is a great way to show your employees that you care about more than just making money. It’s also an excellent way to get your employees involved in something bigger than themselves.
If you choose this incentive, let your employees pick the charity they would like the donation to go to.
7. Team Building Activities
Team building activities are an excellent way to encourage teamwork and boost morale. They can also be a lot of fun! If you want your employees to work better, consider organising a team-building activity.
8. Offer Free Skills Training Courses
Why not offer free skills training courses if you want to encourage your employees to upskill? It’s a great way to show your employees that you’re willing to invest in their development.
It’s also a good way to ensure that your employees have the skills and knowledge to do their job effectively.
At the Skills Training Group, we regularly support businesses to ensure their employees have the opportunity to update their skills. It’s also a great way to boost productivity because career development is a driving factor in the job search for most people.
9. Flexible Working Arrangements
Flexible working arrangements are becoming increasingly popular and for a good reason. They offer employees a greater degree of freedom, and they can also make it easier to balance work and life commitments.
If you want to show your employees that you value their wellbeing, consider offering flexible working arrangements.
10. Volunteer Days
Volunteer days are a great way to give back to the community, and they’re also a lot of fun. If you want your employees to feel good about their work, consider letting them take a day off to volunteer.
Not only will they be doing something good for the community, but they’ll also appreciate the opportunity to take a break from work.
These are just some of the best employee incentive ideas. What’s important is that you choose an incentive that’s right for your company and your employees.
By finding the perfect incentive, you can encourage your employees to be more productive and engaged with their work.`
There are a lot of different employee incentive ideas out there, so it’s best to take the time to find an incentive that will motivate your employees and encourage them to be more productive.
With the right incentive in place, you can see a significant increase in productivity levels, attract new talent to your company, and keep your current employees happy.