An efficient leader understands that their biggest asset is their workforce. Much like a car, the engine of your business needs fuel too. Thus, every organisation tries to find the best fuel it can, in the form of its talented workers. However, it is important that you keep the internal machinery of your business well-oiled and treat it like you did on Day one. Rewards and incentives play a huge role in providing that special treatment.
Rewarding your employees has always been a good strategy when you are contemplating ways of keeping their spirits up. Appropriate incentives make them feel privileged and push them to stay dedicated to the organisation.
To help you pick just the right rewarding solutions, we have compiled a list of the best incentives you could offer o your employees and drive a deeper work satisfaction among them. You could also consult professionals such as Global Reward Solutions, who specialize in curating reward strategies for organisations of all scales.
1. Coupons compensating time
You would need to gauge the efforts of each employee for this plan to work. Most leaders do have an idea of what each talent brings to the table. However, those who lack their qualifications or experience may be making it up with their efforts and dedication. The steady ones sure need a reward!
The employees who barely take leaves and are always on time should be rewarded likewise. Their best quality is their regularity and respect for time, and they would appreciate if you could reciprocate. You could reward them with extra day-offs or “leave early” once a week. You should leave the specifics of “when and where to use this reward” on the winning employee. This sets an example for the other employees and motivates them to be punctual too.
2. A day at home
Work from home is an easy way to get your work done, while also establishing your flexibility. This also helps your employees feel trusted. Moreover, this could be an efficient way to reward younger talents, who seek more comfort. It has been found that 30% Millenials said they would leave their desk jobs if offered a remote job! You could retain that lot by offering them work from home once-a-week or every time they cross their weekly targets.
3. Greet with a treat
A whopping 48% of working-class admits they have never had friendly terms or any long-lasting interactions with their employers! The people you spend most of your lives with, considering you work 40 hours a week, should not be complete strangers. Thus, you could occasionally take your team out for a brunch or dinner. You would not only get to interact with them, but it would also help them understand your goals for the organisation.
4. Collect points to redeem gifts
It’s a good idea to let employees earn points based on their work. This would push them to work harder and earn more points. You could set a particular target, attaining which they would be able to redeem their points as gift vouchers. Moreover, you can even offer different rewards for your employees to select from.
5. Healthy competitions in sports
Within an office, there may be some negative tension brewing between coworkers. In a stiff competitive environment, competition ceases to be fun and soon becomes a jealousy-fueled business. There may have been cases when your coworkers started dragging each other down for their own growth. It would, eventually, harm the company. Therefore, setting up a healthy competition into the workplace, for example, a football match, or a chess tournament, would not only help them become friends, but it would also encourage a more light-hearted competition.
We hope these quirky ideas have helped you come down with some ideas for your own team. If implemented properly and with the help of professionals, this could give your business a 360 makeover.