Employee incentives have become a common way for employers to invest in their employees and raise job satisfaction and retention rates within their organization. In a world where job security is scarce, and employees are always looking to climb to the next opportunity, employee incentives have become a great way for employers to give back to their workforce. The key to success for incentive programs is to ensure that the employee rewards are effective in raising employee loyalty and job satisfaction. Below are 3 employee rewards that are common in employee incentive programs, but not always the most successful, and some ways to improve these particular incentives to drive desired outcomes.
2. Fear: Fear is not a way to motivate employees. Empowerment is a much stronger tool for motivating employees than fear. Making sure employees are always prepared and on their toes is a way to keep employees prepared for any and all situations, but keeping employees in fear of management is no way to incent employees or motivate them.
3. Competition: Competition can isolate employees at work, and create situations that accelerate burnout. Encourage employee incentives in situations of exceptional teamwork, rather than employees who can beat employees in a competition. Using incentives and employee rewards to encourage teammates to work together will have a longer lasting effect that pitting employees against each other.
