Business

How to motivate and reward your office staff

Managers are often trying to find new ways to incentivise their staff, through rewards and perks that motivate, and ultimately retain, their valuable employees. It’s not just a case of getting more bang for their buck, but genuinely seeking ways to show their appreciation, loyalty and safeguard their most valuable assets.

“A person who is appreciated, always does more than what is expected”

– Amy Rees Anderson

Rewards programs that work

Whilst many Managers will ponder and discuss within their C-level structure as to what will drive their staff forwards, the most effective way of finding out is to ask what is of value and importance directly to those who will take part. To obtain buy-in to any reward scheme, both employer and employees need to be stakeholders in the program. Setting realistic expectations and making them transparent will motivate all involved and reap the benefits within the business.

Plentiful research shows that an incentive program that focuses on the value of the employee are found to be the most fruitful in terms of productivity return. Finding the right schemes that are attractive, achievable and worth the effort can lead to staff retention. Setting both small and large accomplishments through personal development plans and transparent goals will reap rewards for both employer and employee. Working into the programs a good balance of financial and non-financial perks can encourage individual performance as well as team working – Mutual bounty prizes and accolade can really unite for a common goal.

Some of the popular choices for significant financial-based rewards that are valued by staff include commission percentages on sales achievements, a company car scheme, the win/win draw of an excellent save-as-you-earn share scheme, childcare vouchers and yearly bonuses; a share of the company profits. Non-financial perks can also come in many different forms that can suit a range of businesses and their staff, from flexible working hours, creche facilities, gym membership, private health/dental plans, car breakdown cover, top-ups on holiday entitlement; the longer an employee stays, the more holiday days they earn.

A little extra can go a long way

Throughout the year, there may be opportunities to reward employees with incentives that step away from the norm, and on a more social basis, such as seasonal/Christmas gifts, a surprise thank you dinner/theatre tickets, free tea/coffee vending, or fresh fruit available on tap by using companies such as Fruitful Office. These small, but significant, rewards can really make employees feel like they are cared for.

There is no one-size-fits-all when it comes to reward and recognition programs, and it may not be practical to implement them at the same time. But there are ways of building in the right bonuses at the right time for your business, that aligns with your own objectives and strategy, and will entice your employees to be swept along with you.

 

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