Four Ways Employee Incentives Can Drive Engagement and Retention

No matter the industry or the size of a business, happy and engaged employees are a huge asset. Ensuring full-time, part-time and contract employees are happy and engaged can be tricky—and the repercussions for attrition can be dismal. Many employees just want to feel appreciated and recognized for their hard work. If they don’t feel like you’re giving them the attention and kudos they deserve, they may go to your competitors for that validation—or stick around but disengage from your company and their responsibilities.

Entrepreneur Magazine recently published insights from our own Jason Mauser on this topic. In the article, he describes how incentives are an important piece of the engagement puzzle. He points out how employees who are more engaged with your business can drive innovation, growth and revenue. And incentives are one way to keep your employees happy, engaged, and with your company.


Here's an excerpt

Incentives matter. A good incentives program doesn’t just provide traditional bonuses or commission-based rewards for sales teams that meet their quota. Instead it should reward and recognize employees from across different departments and levels of responsibility for achieving different work-related goals. You can avoid the pitfalls of employee turnover by driving retention using incentives in your employee engagement efforts. Here’s how:  

Provide convenient access to incentives.
Connect with your employees where and when they want. This means offering several different delivery and redemption avenues for their rewards to suit their varying lifestyles and preferences. This can include online or even via a mobile device like a smartphone. You can drive engagement by providing a user-friendly process so participants can easily access and redeem rewards without feeling stressed or overwhelmed.

Make program participation easy.
You don’t want your employees to feel like participating in your incentive program is more trouble than it’s worth. Instead, make the program memorable for the right reasons and provide an intuitive experience that makes it easy to participate. It’s a lot easier to participate in a fun, interactive program as opposed to one that’s monotonous, confusing or uninspiring.

Give employees multiple reward options.
One size doesn’t fit all—especially when you’re trying to motivate and show appreciation toward your employees. It’s important to offer a variety of reward choices such as gift cards, egifts, travel, merchandise and more to satisfy a diverse group of recipients.

Enable speedy incentive delivery.
Today’s society is increasingly fast-paced, and devices like smartphones have helped create a constant craving for instant gratification. This includes incentives delivery. When you offer an employee an incentive for achieving a goal or going above and beyond, deliver the reward in a timely manner. If you don’t, you’ll lose the opportunity to quickly engage them and make the reward as meaningful as you can.


Explore our unique resources and rewards that will help you inspire employees to perform at higher levels, reach their goals, develop effective habits and invigorate your company culture.


 

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