Every organization has the opportunity to improve. The backbone of every successful company is its hard working employees. In order to see improvement and growth in your organization, it is necessary to inspire and motivate employees. Creating a well-planned employee incentive program is an excellent way to ensure your company has the best team in your industry.
Decide Which Group Your Employees Are In
Each organization is made up of a unique mix of people, all with their own personalities, skills and abilities. Performance of each individual can vary because of these specific traits. An incentive program that is well organized can be helpful in addressing and combining these factors to help increase their performance. When designing your program, start by deciding which three categories your team falls into. This will allow you to decide which incentives interest and motivate them.
The Top 5-10% of Employees
- Highest Performers
- Incentives should help these employees reach even higher levels of success
- Rewards should be something that recognizes employee’s performance, incentive travel works well for this group.
- Offer the greatest chance for enhancement and growth
- Incentive program should help build skills and motivation
- Offer incentives that are fun, inspirational, and positive]
- Rewards should be quick and easily obtainable
- Lower performers may just be lacking focus, training, and motivation
- Incentive program should offer some sort of motivation, but focus on training and product/ industry knowledge
- Incentives should excite these employees to reach higher goals and obtain greater positions in the company
Avoid Any Traps
There are several common traps when it comes to incentive plans. Make sure to do specific research, and try to avoid these traps listed below:
- Don’t use your entire budget to provide rewards only for the top performers
- Don’t leave the hard-working employees without anything; employees who are not rewarded for their hard work are likely to lose motivation
- Offer similar or equal rewards to all participants who reach specific goals
One Gift Trap
- Don’t offer the same reward for all employees who reach a corporate, singular-goal.
- Don’t always reward with money, it’s not always the best option.
Design Your Incentive Program
These principals should be kept in mind when designing your program:
Simple is Best
Avoid anything too complicated and long lists of goals. Try to select a few (1-3) specific goals you would like to achieve, and focus on them.
To ensure your participants are excited about the rewards, allow them to choose what they receive. Offer employees points for achieving specific goals, or improving performance, and allow them to decide when they redeem them.
Make Sure Everyone Can Be A Winner
Don’t reward only your top performers. Although they may be bringing in the best business for you, it is important to keep the rest of your team inspired and motivated. Design a program where everyone can succeed or “win.” Use leader boards to showcase standing, drive enthusiasms and motivation.
Use the Positive
Incentive programs should be fun and exciting for employees! Do this by focusing on the positive, and cheering on employees throughout the process.
If you are ready to improve your company’s incentives plan in a big way, contact Loyaltyworks! With years of experience in the industry, Loyaltyworks can help bring your incentive and rewards program to the next level.Google+
2337 Perimeter Park Drive
Atlanta, GA 30341