Incentive programmes are formal schemes that are used by employers to encourage their workforce to be more motivated, or to attract and retain customers. Incentive and motivation programmes have been repeatedly used by businesses to both help deliver better performance and give employers the opportunity to engage with their employees on a personal basis.

By offering incentives for your employees, you will find that their motivation will increase substantially at work. This is just one of the many advantages that your company stands to gain from offering such programmes.

Of course, there are right ways to go about offering such incentives, as there are wrong ways to go about it, too. If the programmes are executed in the right manner though, there are numerous benefits your company and workforce will enjoy.

Why are incentive programmes important?

Typically, incentive programmes are used to reward employees for achieving work goals or other milestones. If you time your programme right, not only will you be able to reward your employees for their hard work, but you’ll also be able to increase future performance, too.

These types of incentives are a great way of showing your employees that you care about them and that you value their input; besides this, you also increase your company’s future business potential too.

Apart from increased motivation and productivity, you will also be securing something very valuable: increased company loyalty. Loyalty is something you cannot pay for: still, incentives for hard work do go a long way in getting your employees to promise long-term commitment. Making your workforce feel valued and appreciated will reap allegiances in the future.

What kinds of incentive programmes are there?

Incentives for hard work can range from free travel to group events that you all take part in together. Feel free to be creative with what you’re offering your employees. Rewarding them with a day off work here and there doesn’t really cut the mustard. If you want your employees to value the work they do for you, you have to reward them with something special.

Apart from making specific rewards for goal completion, like organised travel events, you could also organise fun team-building excursions, like a day out paintballing or organising private parties for your employees. Comprehensive event planning is essential for rewarding your workforce en masse.

Integrating PR events

If your company is launching a certain service or product and you’re having an event to celebrate, it’s always a good idea to make sure that your workforce can also be included in the festivities. This will make them feel valued and that the launch in question couldn’t have been accomplished without their input.

This will also give your employees the opportunity to network with representatives from other companies. This in turn will raise your company’s profile even further.

Bespoke prizes

Aside from organised events, including the occasional prizes for hard workers is a solid way of ensuring increased performance and motivation on a short-term basis. Of course, you may not be able to afford to give out these kinds of prizes (which usually include paid holidays, tailor-made travel, technology goods, gig events, etc.).

Still, it’s something you should keep in mind for the future, after the company’s hard work has begun to pay off and you can afford to give your employees the rewards they deserve.

It’s a proven fact that companies who take the time to reward their workforce do reap a lot of long-term benefits: increased motivation and most importantly, allegiance to the company. It definitely takes more than just a paycheck to make your company a great one to work for. You need to be creative in the way that you blend benefits and incentives to get the most out of your employees.