One of the most important parts of any business is its employees. Rewarding them can not only make them happier while they work, it can also help them want to be more productive. When done right, employee incentives can boost your business’s productivity while also improving the lives of your employees.
Every rewards program should have distinct criteria. The criteria and rules should be clear and easy to understand. This will ensure everyone knows how to earn the available rewards. Whatever rules are involved, make sure each employee knows them up front.
Employee incentives can take a number of different forms and can be individual rewards or group incentives. If you can’t afford cash bonuses, get creative. Offer a Friday off, have an ice cream party or create an Employee of the Month award. Instead of cash, perhaps employees can earn extra hours off by meeting or exceeding company goals.
Be sure to keep things fair.The rewards should match the effort, and every employee should have an equal opportunity to earn each reward.
In addition to any other incentive programs, if you notice employee morale is down, it doesn’t hurt to say thank you and let staff members know they are appreciated. Sometimes a sincere pat on the back is the best incentive of all.