Keep Rewards Simple – Types of Rewards to Implement
Incentive or reward programmes come in different shapes and sizes and will vary from one company to the next depending on objectives, intent and budget. But whether your business is small or large, if the programme is simple and easy to understand, if the goals are clear and achievable, and if the rewards are valued, your programme will succeed. Keeping things simple is paramount and this applies to rewards also – very often the simplest incentive, and they’re not always monetary-based, can be the most effective.
Wellness Day: to promote the idea of physical, emotional and psychological well-being, employees can earn an extra day off work in exchange for participating in health-related activities.
Prized Parking: if your company is based in an area where parking is at a premium, consider allocating the best spot to that month’s top performer.
Travel: whether it’s a weekend get-away, a luxury resort for two weeks, or journeys of distinction; travel incentives are desirable and highly valued.
Catered Lunch: once a week have lunch delivered to the office where everyone can sit down and enjoy a meal together – it’s a great social lubricant and encourages communication.
Flexitime: if your business allows for it, let employees choose to fit their working hours around their individual needs – this is a huge drawcard and benefit for those with children.
Company Merchandise: offering staff free company-branded clothing or other logo items is a simple and effective way of showing appreciation and saying ‘thank you’.
Lunchtime Lectures: the majority of workers want to develop professionally, so feed that desire by asking senior members or outside speakers to share their expertise over an informal lunch.
Early Fridays: it may only be to leave the office one hour earlier once a month, but that one extra hour of freedom can be very appealing.
Dining Out: find favourite restaurants in your area that offer gift certificates and reward your most productive employees with a fully-paid dinner for two.
Gift Cards: deemed more compelling than a cash bonus, gift cards are more memorable and allow for guilt-free spending – often luxury items that staff otherwise would not have purchased.
Dale Carnegie said ‘people work for money, but go the extra mile for recognition, praise and rewards’. If you want the extra-milers on your team, creating a strong company culture and improving your bottom line, find unique and simple ways to reward them in ways that they truly value – contact The Incentive Company to help you achieve this today.