Incentives That Excite Employees
Want to increase work performance at your company by 22 per cent? Here’s the secret: Good employee incentives.
Not only do effective incentive programs lead to a productivity increase, but it also boosts employee engagement and helps you attract top talent.
The caveat is not to offer benefits just for the sake of it. Effective incentives are relevant. Not a token, because we all know what happens to tokens—they end up getting ignored and shelved.
Be careful of getting swept away by trendy perks too. You never want to spend a lot on a shiny new incentive idea but miss out on the promised business advantages.
Make an investment that counts by knowing what incentives will get your employees out of bed and motivated to turn up for work. Here are five top benefits that’ll excite your people:
Flexible work hours
According to research from Seek, the most sought-after incentive for Aussies is flexible hours. On top of being a sure-fire hit, flexible working is an excellent way to attract talent, reduce costs and increase productivity by up to 60 per cent.
Check out the pros and cons of flexible working from the WellHub.
Working from home
In 2017, HBR found 80 per cent of workers would consider a job that lets them work from home. Like flexible working, demand for this perk stems from workers’ desire for a meaningful life. Not just living to work, but being able to engage in activities that promote balance.
A report by the Incentive Research Foundation (IRF) showed nearly 40 per cent of people want wellness or wellbeing components in their benefits program. This includes items and activities that promote better physical wellbeing, healthier eating and reducing stress and anxiety.
Providing these incentives is a wise move since corporate wellbeing programs can decrease absenteeism, promote employee engagement and increase productivity.
Of the incentives not related to ‘time at work’, professional development rated highest on Seek’s list.
By providing learning, training and development incentives, you’ll create a pool of employees invested in your success. Not only do employees feel valued and supported (which boosts performance), but you also benefit from their professional contributions.
Don’t forget, your employees care about your company and want you to recognise that. One survey found 94 per cent of employees aim for alignment with the company’s mission. However, it highlighted the pressing need to acknowledge employees who do contribute to the company’s cause.
So, be generous in giving credit where credit is due—mainly when it contributes to the bigger picture. This might be the most effective and affordable perk you’ll ever provide.
Why hand employees a useless token disguised as a benefit? Keep these top incentives in mind and always reward them with something exciting!