There’s no denying that employee incentivisation forms an important part of their overall work satisfaction. As a small business owner, finding the right ways to incentivise staff properly can play a key role in improving their performance on a daily basis and helping to create an environment that fosters growth and job satisfaction.
There’s no denying that employee incentivisation forms an important part of their overall work satisfaction. As a small business owner, finding the right ways to incentivise staffproperly can play a key role in improving their performance on a daily basis and helping to create an environment that fosters growth and job satisfaction. Whilst monetary rewards, such as bonuses, are often welcomed, there are various other ways in which you can incentivise your employees that don’t involve breaking the bank – in other words, the “soft” benefits should not be underestimated. What follows are a few suggestions for how you can motivate (and keep) your current employees while keeping costs to a minimum.
Introduce telecommuting or flexi-hours
There’s nothing employees will find more satisfying than knowing that they are part of an organisation that takes an interest in them and their needs. Initiating the option of telecommuting or flexi-hours can be a great way to give back to your staff and show them that you are committed to making their lives easier where possible. Telecommuting can help save time and money, with flexi-hours giving employees the freedom to decide when they come in and leave the office. As the business leader you will of course have to make the decision whether or not these are things that will work within your company environment. Once in place, these systems should be monitored with acceptable guidelines being laid down from the start to ensure things run smoothly.
Set aside designated communication sessions with employees
Finding the time to get to know your employees, listen to their needs and take a genuine interest in them can be a difficult feat, especially with many peoples’ daily schedules being so jam-packed. Introducing a programme whereby you make the time to meet with a different member of your team each week for a mini catch-up session can be very rewarding for both of you. Talking to people one-on-one helps to build trust and shows employees that they are truly valued – something that has proven to be one of the most powerful incentives for retaining staff. The sessions could be used to talk about anything (work related or not) and an opportunity to communicate thoughts, feelings and ideas within a safe space.
Give a nod to those who matter to your employees
One of the best ways to show your appreciation for your employees is by including and looking after those close to their hearts. Initiatives such as “Bring Your Kid to Work Day” or “Family Movie Night” can help those who support your staff at home, feel part of their life at work, something that is bound to strike a chord with employees. These kinds of activities will remind staff that they are part of a company that is willing to go the extra mile and one that holds the value of family in high esteem.
Take staff wellness seriously
Doing what you can to promote wellness within your business can do wonders for morale and the overall well-being of your employees. Educating staff on various aspects of health and lifestyle through talks, awareness campaigns and leaflets can help to reduce absenteeism, something that can lead to resources being drained. This will show that once again, the company is taking an interest in its employees and intends to invest in them in the long-term – the result: an empowered and happier work force.
Good old-fashioned public recognition and cash rewards for great work will always have their place within most businesses, but with some creativity and thought, you can come up with other ways to incentivise employees, because after all, motivated workers inevitably mean success for your business.
Featured image: http://www.virgin.com