There is nothing more important than being motivated to work at a company. In a situation where more companies are adopting remote working, it is important to provide effective incentives to employees and keep them engaged in their work. So, what are some effective ways to incentivize employees?
1. Provide vacations to avoid burnouts
The lack of paid time off is the number one factor leading to employee burnouts. Burnouts significantly reduce employee productivity, and potentially lead to turnovers. It is important to spot signs of burnouts within the team, and consider providing extra paid time off could prevent burnouts and act as an incentive to help the team achieve the goal.
For example, giving a week off after an important project is finished could be a way to appreciate team members and to motivate them at the same time. Such action can incentivize everyone on the team to get the job done right with an expectation of good returns. Additional paid time off is one of the most effective incentives for employees, because it not only gives hardworking employees a much needed break, but also improves their productivity in long term.
2. Create competitive vibe
Creating a competitive vibe within the organization can act as a big motivation aspect to employees. However, you need to be careful as certain types of competitive spirit can do more harm than good. Competition should not be one-on-one but rather be structured in a way that encourages collaboration between team members. To do this, you can set goals for the team as a whole, instead of setting individual goals. This way, members can compete, but work towards the same goal, which can increase teamwork and efficiency.
3. Provide workshop benefits for high performing teams
An effective way to incentivize employees is to provide workshop benefits for teams that have met all of their quarterly goals. Benefits can range from team dinner a fine restaurant, party at upscale bars, sports activities like soccer or baseball, and movie nights. These workshops can be used to publicly recognize members for their performance, and provide great team-building opportunities for the team members. Efficiency and productivity can increase when employees feel they are connected to each other.
4. Offer customized rewards
Rewards offered as incentives must be tailored to the individual. No one is going to be satisfied with the same rewards, so it is important to give your employees a variety of reward options. It is recommended to introduce reward and recognition programs to offer customized rewards. By using a program that specializes in offering rewards to employees, employees will be more satisfied with the rewards and benefits that the company offers.
