Which Employee Incentives Work Best?
June 7, 2016 |
It should be no secret that a company that recognizes its talent on a regular basis tends to see a higher ROI. Bob Nelson, Ph.D., author of “1001 Ways to Reward Employees,” said employee incentives can make all the difference. According to him, employees who work in a culture of recognition are five times more likely to feel valued than those who do not. Subsequently, there’s a 700 percent greater shareholder return in companies whose employees report being more satisfied.
Even if your company’s budget doesn’t leave room for a huge employee incentive program, there are some little changes you can make to improve company morale. Here are six options to help you get started.
1. Health and wellness programs
2. Gift cards and movie tickets
Sometimes, it’s all about the little things. A $5 gift card to Starbucks, tickets to a football game or even movie tickets can demonstrate to your employees that you value their time.
3. Flex hours and telecommuting
It’s no surprise that employees appreciate a little freedom when it comes to time spent in the office. Give your employees the option of working from home every so often and it can improve productivity within the office walls.
4. Gourmet coffee and snacks
Keeping a well-stocked break room is another way to show employees that you want their experience in the office to be the best. Provide them with a variety of snack options and let them vote on who should supply your coffee.
5. Team jerseys
Host an employee field game day and give everyone a branded company jersey printed with his or her last names.
6. Trophies, awards and medals
Everyone loves showing off their talents and an Employee of the Month trophy gives your employees the chance to showcase their efforts.
Source: The Power of Perks