Using Incentives to Inspire Productivity
Productivity keeps a business moving towards meetings its goals. The goals could involve a grand expansion across the national landscape. Or, those goals center on keeping the company afloat by upping revenues to address a debt balance. Productivity, ultimately, supports business in some way. A lack of productivity, however, could undermine a company on many fronts. To ensure a business remains productive, the employees can't become complacent.
Keeping employees motivated proves perplexing to a segment of business owners. They seem to grasp at ways to encourage employees to perform better. Perhaps those struggling managers need to explore different incentives for workers.
Incentives aren't difficult to comprehend. "If you do 'X,' you will receive 'Y.'" The key here is "Y" has to be worthwhile and commensurate with the work required to do "X." Different companies may require different answers to the X and Y equations. A few traditional incentives, however, seem to work well in most environments.
Craft a Sliding Scale Compensation Package
The cynical might look at money rewards as being a bit banal. The average employee looks at money and other forms of compensation as great motivators for better performance. People work to support themselves. More money means a better lifestyle and improved financial security. Crafting a payment-based incentive approach should work with a broad swath of the staff.
Clearly define what the employees must do to receive a raise, a cash bonus, full healthcare coverage, and the like. Don't present any ambiguity about the path necessary to obtain a reward. Without a definitive performance roadmap to follow, employees won't know what to do.
Publicly Acknowledge Great Achievements
Sometimes, a mere word of thanks is enough to spark employees to do a little better. Slight improvements across a collective of employees add up. Shaking an employees hands and saying "Thank you" in a private office shows an employer notices and cares. Thanking the employee in front of co-workers may help even further. What about acknowledging the employee in front of the public? Placing a small notice in the local newspaper with a photo of the employee may incentivize improved performance across the entire workforce. A small classified mention in a paper with a 40,000 circulation won't make the employee a celebrity, but that is not the purpose of the remark.
The goal here is to boost productivity by showing appreciation. Even those who don't win a mention may be motivated to perform better. They realize their work won't go unnoticed. Productivity may reap benefits from their upbeat attitudes.
Hand Over a Nice Gift
Gifts come in all forms. Big or small, an employee may show loyalty to an employer who gives nice gifts as a reward for performance. The gifts bestowed to the employees don't even need to be expensive ones. A small desktop radio or a supply of the Le-Vel Thrive get across thoughtfulness. Maybe the gesture provokes the notion of a gift exchange. In return for the gift, the employee responds by continuing or even boosting productivity levels.
Deliver All-Expense Paid Time-Off Awards
Time-off awards refer to paid days off that do not detract from already established vacation or sick time. The employee receives not only a cash bonus regarding his/her regular salary, but the employee isn't required to show up at the office for a day or two or more.
The government likes to issue time-off awards. The private sector can do so with its own spin. How so? A private employer may take things to the next level. By itself, such a time-off reward represents a good deal. Paying for what the worker does on his/her day off would be an even better deal. Employers might wish to spend a little extra to cover the employee's activities on those days off. Free movie or zoo tickets fall may be nice.
Incentives come in many forms. They don't have to be complicated. Any business could put a type of incentive into practice. Doing so without delay might be the best approach.