Providing incentives to your employees can be considered as the correct approach to boost motivation? Yes, why not? In fact, incentives are one of the significant links between people and productivity. The success of an organization depends on the productivity level of its employees along with other significant factors, for instance, teamwork, dedication, hard work, etc. Successful developments heavily rely on having incentives, which fall perfectly in place. This is because positive transformation can only be sustained in a workplace culture where good performance is rewarded and praised.
Usually, such rewards are considered individually, based on either non-financial or financial, and external or internal grounds.
Employers should remember that employee motivation is important, but keeping them happy is equally important because motivating an unhappy employee is a very difficult task.
Tony Hsieh’s Zappos sets a great example. It is a true innovator. Surely the company might not shower its employees with the most lavish perks in the manner Google, Facebook, and many other tech giants do, but they have succeeded in creating a workplace culture, which keeps its employees happy and satisfied.
The right combination of a positive work environment and incentives can keep employees more productive and happy.
Let’s have a look at few incentives:
Employers should reward their employees with additional bonus rewards to praise their great performance. This is considered to have maximum effect on employee productivity.
Additional perks should be offered by companies to its employees, which aren’t necessarily financial, but casual ones, such as half days, parties at the office, casual office day, or social activities, for instance, movie, bowling competition, beer party, etc.
Honouring your employee in public for a great performance makes a huge difference. Companies must offer positive reinforcements. Arranging a program in order to recognize your employees for their phenomenal contribution can do wonders.
Providing basic comforts such as Daycare center, gym, etc, to your employees are also considered to be good incentives for motivating your employees to stay focused on their job.
Employees experience a major boost in morale, engagement, and job satisfaction when rewarded for stellar productivity and performance. As a result, an increase in sales, better idea, and greater efficiency is experienced by the employer. Through workplace incentives and rewards, employees and employers enjoy a productive and a positive workplace surrounding.