Employee Incentives ideas

Employee

Incentives Ideas

What

are Incentives? Why do companies give incentives to their loyal customers and

best performing employees? What are the benefits of having an incentive

program? Will your employees appreciate such a program, and in return, produce

more capital and create a friendly work environment? Even the word “Incentive”

sounds pretty good, doesn’t it? So how do we use incentives to motivate

employees and promote the overall health of a business?

An “Incentive”

is something that we attain by meeting a goal. This is to motivate and

encourage employees to boost their productivity and morale. These incentives

may be offered by their employer in the form of bonuses, rewards, and salary

increases. Incentives can also be a form of cash or non-cash reward, such as

plane tickets, concert tickets, and extra vacation time.

Progressive

companies and businesses commonly offer performance-based incentives and

compensation for their employees. It is an excellent way to retain the employees

for longer durations, while they simultaneously produce higher quality work.

With the use of incentives, not only do the employees benefit, but the overall

company does as well. Incentives are an excellent way for you, the employer, to

have a positive relationship with your employees and promote a healthy,

profitable work environment.

Employee incentivesalso generate healthy competition between teams and individuals within the

company. For example, if only certain individuals or employees receive an

incentive, then that can motivate other employees to increase their production

to attain the same rewards. Managers also set parameters and benchmarks on

determining which employees are eligible for the incentives. Examples of some

these parameters are perfect attendance, above average or excellent quality of

work, and treating fellow employees with respect and kindness, ultimately

reducing the stress in a work environment. By setting this benchmark, the

company becomes productive as well by motivating their employees in a positive

manner.

Offering

incentive programs to employees is a very important proposition for companies. Whether

it’s a small town Ma & Pa shop, or a multinational corporate powerhouse, an

incentive program for employees creates a feeling of value to that business,

and they tend to stick with the company for a longer period of time. Smaller

firms may only provide informal and simple incentive programs while larger

companies have more formalized reward systems. Thus, it is possible to improve

the company’s sales and workforce through the compensation and incentives that

they offer.

Simply

appreciating and recognizing your employee’s good work is not an incentive. It is

something that an employee perceives as something valuable yet it doesn’t need

to be monetary (price associated). However, by allowing the employee to earn

rewards in the form of money, it often elicits a better response. Aside from

that, great incentives also provide greater quality of work since many employees

are aiming for something which is worth exerting their effort. The challenge

and excitement of all business starts on good employee motivation (through

employee incentives) that the company provides, which encourages them to be

better in terms of their performance.

Most

employers offer their employees a paid vacation or yearly vacation. Did you know

that most families decide to stay home on their vacation and work around their

house because the cost to travel is so high? Why not provide your employees and

customers with a travel incentive which is equipped with the lowest travel and

entertainment discounts on the market? Using this type of incentive no only

makes it affordable for them to travel but it also means you are encouraging

them to go relax and take that much needed vacation.? Hotels Etc. offers a very unique employee

incentive program that is certain to force your employees to take a vacation.

For more information visit http://members.hotelsetc.com/employee-incentives