Employee incentive schemes reward exceptional employees for reaching work goals, achieving milestones or simply doing a good job. They can provide companies with a whole host of benefits; however, the most pivotal advantages to be gained are in terms of productivity, motivation and company loyalty.
1. Increased productivity
Offering employees' rewards for reaching targets or for good work in general will help to spur them on in their performance. It doesn’t matter if the actual reward is a hot air balloon ride or a high street retail voucher; the effect will be the same. With the promise of rewards, as well as some clearly defined targets, employees will undoubtedly be more productive.
2. Increased motivation
Unsurprisingly, many people find it hard to motivate themselves when they are at work. However, the promise of a potential reward in return for a little extra effort will inevitably galvanise even the most apathetic of individuals. Indeed, the prospect of being rewarded with a holiday, spending spree or unforgettable ‘adventure day’ will see motivation levels increase across the board.
3. Increased loyalty
Rewarding hard work can go along way in helping to secure commitment from employees. staff incentive programs show workers that their employers really do value their input and their work. Ergo, an employee who feels valued and appreciated will be far more likely to develop a bond of loyalty to their company.