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Employee Incentives ideas

12 Mar

Employee Incentives ideas

Employee
Incentives Ideas

What
are Incentives? Why do companies give incentives to their loyal customers and
best performing employees? What are the benefits of having an incentive
program? Will your employees appreciate such a program, and in return, produce
more capital and create a friendly work environment? Even the word “Incentive”
sounds pretty good, doesn’t it? So how do we use incentives to motivate
employees and promote the overall health of a business?

An “Incentive”
is something that we attain by meeting a goal. This is to motivate and
encourage employees to boost their productivity and morale. These incentives
may be offered by their employer in the form of bonuses, rewards, and salary
increases. Incentives can also be a form of cash or non-cash reward, such as
plane tickets, concert tickets, and extra vacation time.

Progressive
companies and businesses commonly offer performance-based incentives and
compensation for their employees. It is an excellent way to retain the employees
for longer durations, while they simultaneously produce higher quality work.
With the use of incentives, not only do the employees benefit, but the overall
company does as well. Incentives are an excellent way for you, the employer, to
have a positive relationship with your employees and promote a healthy,
profitable work environment.

Employee incentivesalso generate healthy competition between teams and individuals within the
company. For example, if only certain individuals or employees receive an
incentive, then that can motivate other employees to increase their production
to attain the same rewards. Managers also set parameters and benchmarks on
determining which employees are eligible for the incentives. Examples of some
these parameters are perfect attendance, above average or excellent quality of
work, and treating fellow employees with respect and kindness, ultimately
reducing the stress in a work environment. By setting this benchmark, the
company becomes productive as well by motivating their employees in a positive
manner.

Offering
incentive programs to employees is a very important proposition for companies. Whether
it’s a small town Ma & Pa shop, or a multinational corporate powerhouse, an
incentive program for employees creates a feeling of value to that business,
and they tend to stick with the company for a longer period of time. Smaller
firms may only provide informal and simple incentive programs while larger
companies have more formalized reward systems. Thus, it is possible to improve
the company’s sales and workforce through the compensation and incentives that
they offer.

Simply
appreciating and recognizing your employee’s good work is not an incentive. It is
something that an employee perceives as something valuable yet it doesn’t need
to be monetary (price associated). However, by allowing the employee to earn
rewards in the form of money, it often elicits a better response. Aside from
that, great incentives also provide greater quality of work since many employees
are aiming for something which is worth exerting their effort. The challenge
and excitement of all business starts on good employee motivation (through
employee incentives) that the company provides, which encourages them to be
better in terms of their performance.

Most
employers offer their employees a paid vacation or yearly vacation. Did you know
that most families decide to stay home on their vacation and work around their
house because the cost to travel is so high? Why not provide your employees and
customers with a travel incentive which is equipped with the lowest travel and
entertainment discounts on the market? Using this type of incentive no only
makes it affordable for them to travel but it also means you are encouraging
them to go relax and take that much needed vacation.? Hotels Etc. offers a very unique employee
incentive program that is certain to force your employees to take a vacation.
For more information visit http://members.hotelsetc.com/employee-incentives

Hotels Etc Inc

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