Incentivising your employees – 10 Best Practices to consider 

Employees are a crucial part of any company, and with so many options available, companies need to look at different ways of incentivising their staff in order to retain them. Whilst there are various ways to incentivise your employees, in today’s blog post we will be sharing with you 10 concepts that we have found most successful as a company, based on the various motivators that employees have.

 

  1. Recognition

Recognition is the foundation of incentives. Take the time to praise your employees when they excel as it will encourage them to keep on doing so.  Such recognition shows your staff that they’re not a number, but an essential part of your business. On the flip side, this will make it easier for you when you need to provide them with feedback on any areas that might require improvement as they are likely to be more receptive.

 

  1. Performance Bonuses

This one is of the many ways to get your employees to aim towards exceeding in their performance and maintaining that level. For those that go over and above in their duties, it shows them that you are recognising and appreciating their efforts which will encourage them to keep striving. For others that might need to improve, such additional remunerations will incentivise them to do better.

 

  1. Development Programs

Supporting your employees in growing within your company helps you retain them. It gives them clearer progression paths, whilst mixing up their day-to-day, reducing the risk of them feeling bored or complacent. Giving employees exposure to other roles helps nurture their growth and gives them the opportunity to experience the role prior to apply for it, allowing them the chance to determine whether it is the right fit for them.

 

  1. Financial Allowances

Supporting your employees with any extra expenses that come with their role can go a long way. If they have to travel long distances, consider the option of giving them a fuel allowance, or if they have to conduct numerous calls, you might want to opt for providing them with an extra allowance to cover this cost.

 

  1. Well-being

There are various ways of going about this. A great way to target all employees would be to offer them with free health insurance. If you have a canteen or vending machines at the office, an option would be to provide your employees a healthier selection to choose from. If your employees spend most of their day static, you might want to offer discounts on gym memberships or fitness classes. Such benefits will show your employees that you care for their health.

 

  1. Discounts

This is a fantastic way to treat employees. Target items that suit their interest; if you have parents in your company, look at providing them with offers on school items. A more generic option would be to offer your employees exclusive discounts on sports or leisure activities to spoil themselves on during their time off.

 

  1. Work Events

Add a little fun! This will give you the opportunity to get to know your employees on a human level. Whilst having an annual party is great, consider the option of also organising events at the office every so often.

 

  1. Create an environment that your employees feel comfortable in

Make sure that your work space is inviting. Whether it’s providing your employees with comfortable chairs and desk space, having some greenery and spaces with natural light, or even adding a splash of colour to your office, when the environment is welcoming, employees are known to be happier at work which results in them being more productive and delivering better results.

 

  1. Employee Committees

Get your employees involved! Committees are fantastic to bring employees together and share ideas. Having a committee to organise office events or to discuss office decisions, will make your employees feel like a valuable part of your company. In addition, you will gain different ideas about the topic at hand.

 

  1. Competitions

This is a great way of adding some excitement to the daily routine. Incorporate it with a performance target and not only will you be adding a fun touch to your work day, but also contributing towards your business goals; One way of doing this would be to pick a target that you need your team to focus on and create a competition based round it.

 

Want to find out more about how to become part of the Centrecom team? Come visit us during our Recruitment Open Day on Saturday 1st December to get an insight to what we do and a chance of a follow-up interview. Book your seat today!

 recruitment@centrecom.eu

 +356 2364 9415

 

 

By | 2018-11-21T12:16:44+00:00 November 21st, 2018|Employee Retention|