Your team can experience burnout as well. They are your strong points to keep your business going. Given this point, you also have to recognize their value. Employee program incentives can help you boost their morale. Aside from that, you are giving them more reasons to choose your company over the others.
A company that does not value its members tends to have high turnover rates. If you continue to let this happen, you might lose all your talents, especially the excellent ones. In effect, your business will incur more costs, including hiring and training expenses. For this reason, you have to act before all your members leave your firm.
Engaging Team Through Incentive Programs
These programs can create a healthy workforce for your business. Incentives can motivate your team, making them enjoy and provide excellent performances for your firm’s growth. In this case, you can try the sample incentives below and see how they can make a difference in your members’ behaviors at work:
- Recognition and Rewards
You have to recognize the efforts and hard work of your team members. It is best to pay attention to how they impart their skills in making the company provide for its clients. Aside from that, you can also think of a reward system, which you can base on points. You can provide a category on how they want to redeem their points or allow them to take control of it, such as giving re-loadable prepaid cards.
- Fun Gifts
It will also motivate your employees to provide gifts during a company-specific holiday, such as its anniversary. In this case, you can make it more fun wherein your team will remember. Some examples are giving quizzes or playing games, then rewarding those who participated the most. Your rewards can include gadgets, prepaid gas gift cards, or snacks. The choice is yours based on how it will benefit your employees.
- Referral Programs
Your members can help you source qualified candidates. You can ask them to refer people they know who are fit for the job. As a result, you can get more applicants in the queue. The program involves giving monetary incentives to the person who referred the successful candidate who passed your screening. In this case, you are also allowing your members to help your recruitment team.
- Health and Wellness
Work can become stressful for your members, leading them to become unhealthy. For this reason, it will help to provide incentives that will promote their physical and mental health. In effect, your members will always be in good shape to perform for the company. You can also turn it into a challenge, such as successfully quitting smoking or losing weight to become healthy. Afterward, you can also reward them for their healthy achievement.
- Bonuses and Raises
This option is one of the most powerful ways to make your members stay. Their expenses increase, so they are likely to want a bonus or raise. In this case, you can create metrics that will serve as your basis on who deserves to receive a salary increase. This way, you will have a concrete reason for the wage rise you will provide them. It will also be fair with all your members and will prevent disputes.
- Leave Credits
You also have to understand that your members have their lives outside work. For this reason, allow them to have some time off to relax. You are helping them to create a work-life balance. Aside from that, you are also giving them the chance to spend time with their loved ones. As a result, your members will have more energy to work for your firm when they get back.
- Professional Development
Another option that can motivate your members is paying attention to their skills. Trust them and assign them to a new task if you see they have the potential. This way, you can help them grow as well. You can also make them perform another task without affecting your operation. Furthermore, it will also be an advantage to your company since you are creating a multi-skilled team.
As you can see, you have plenty of options to retain your members in the company. These programs can help you motivate them and keep choosing your firm over the others. Meanwhile, apart from these programs, a simple thank you and tap on the back can already make a difference. You have to let them know that you value their worth in your firm. The thing is, valued employees tend to stay longer than those who are not.
In general, make sure to give importance to your members’ contributions. You can reward them as long as your business can provide.