Rewards, Rewards, Rewards
Only 24% of employees feel satisfied with how much recognition they receive while on the job. You would think that recognition could be easily quantified with a dollar sign, but not according to over 70% of employees who feel that real validation has no real dollar value.
How can you motivate employees?
- Education is something people can really respond to. By furthering ones education not only could they be of more benefit to your company, they will also feel empowered knowing that they are growing as people. A number of companies offer education as an incentive as does the military and other government organizations. Education doesn’t have to mean a Harvard degree, short courses, continuing education etc can also create loyalty.
- Perks are great and don’t have to be only financial. People always find a way to spend money on bills or other must do’s in life and simply giving them money may not afford them the opportunity to enjoy the perk. Office parties, half days and activities outside of the office are great incentivizers.
- Taking time to really show your appreciation to your employees, especially in front of others will make a huge difference. Programs that let hard workers shine in front of their counterparts really get the motivational juices flowing and create a bit of healthy completion in the workspace.
- Workplace amenities such as cafeteria, daycare and gyms are a great motivator for employees. Even if you can’t have a gym in your office, simply offering a gym membership can go a long way. Gym memberships are another one of the items that might be on a lot of people’s secondary priority list and providing them with it can again make them feel like they are getting something that is not only good for them, but something they might not be able to get themselves.
- While most of the list comprises of incentives that aren’t necessarily only financially related. Cash is still king. Bonuses and other financially motivated incentives are a great way to motivate staff, especially in situations where the other incentives are hard to implement.