12:00 AM, 12 06, 2019

Getting The Most From Your Workforce: How to incentivise your team

If you’re overseeing a team of employees, it’s important to incentivise them so they come to work feeling motivated, included and raring to go. When you want to incentivise your team, there are many different ways to do so. If you want to incentivise them with an award for their loyalty, this is when you could go all out on a really special reward. Or, if you simply want to acknowledge a member of your team who’s working really hard, then you can incentivise them without even dipping into your pocket at all.

When you incentivise your team, you’ll notice boosted morale and increased productivity, amongst a whole host of other benefits to your business, so we’ve put together some ideas for you as to how best to incentivise your own employees.

Without Spending A Penny

You don’t have to spend much or anything at all to incentivise your team for the small wins. You could motivate them to get involved in the running of your company by encouraging them to share their ideas as to how the business could be improved. If any of their ideas come to light, you could incentivise them with a small gift.

A plain and simple way to incentivise your team and keep them motivated is by offering meaningful compliments that will go a long way towards making them feel valued. An acknowledgement of a job well done or letting them know that you noticed them going above and beyond will give them a sense of achievement, encouraging them to seek that feeling again.

You can incentivise your employees without even going out of your way by highlighting the efforts of specific people in your team meetings, and even recognising employee wins on your social media channels for all your followers to see how hard your team works. You can even incentivise with a peer-on-peer acknowledgement platform whereby employees recognise the efforts of their peers, thus allowing them to receive a reward. Providing opportunities to work from home will also motivate your team to maintain their hard work whilst allowing them to see the flexibility their workplace offers.

Workplace Morale

You can incentivise your team simply by increasing workplace morale. There are practices and awards you can put into place that will quite simply make your employees want to be a part of your team. One of the best ways to boost morale is with personal development opportunities. Think about what interests your team might have and offer additional training so your employees can upskill themselves in something they’re passionate about. It’s a win-win for both you and your team.

When you’re looking to incentivise your team, you could consider a free gym membership or yoga classes within the workplace. This not only gives your team a fantastic work perk, but exercise can actually increase their fitness, mental health and motivation, making for higher productivity and fewer illnesses.

Something you could offer to incentivise your team to stay with your business is to offer health, dental or life insurance within their benefits. You could also consider giving them paid time off to volunteer. This will allow them to take part in helping a cause close to their hearts, but will also allow you as a business to step forward as an advocate for the community.

Splashing Out On Success

When you want to incentivise your team to stay with the company or even just to go the extra mile for your business, there are plenty of rewards you could put in place. You could reward your team with shares in the business, which in turn will encourage them to care even more deeply about the growth of the business.

Team days, parties and social events are also fantastic ways to incentivise your employees, giving them the chance to get to know their colleagues even better, courtesy of the generosity of your business. You could even give out prizes at these events to acknowledge exceptional efforts.

When you’re looking to incentivise your team with a reward that shows them how much you appreciate them, consider compensation incentives. This could be a raise or a bonus which will let them splash out on something for themselves. SVM Global’s incentive and reward schemes let you recognise your team’s efforts with gift cards and prepaid Mastercards that’ll allow your hard-working employees to go out and treat themselves with something that’ll make them feel really valued.

When you incentivise your team with versatile options such as gift cards, word will naturally spread, which will not only help you to retain your employees by keeping them motivated, but will also attract new ones too when you’re looking to recruit.

When you’re setting goals and targets for your team, it’s important to have clear criteria that they’ll need to achieve in order to receive a reward, and always make sure they know why they’re being rewarded when you’d like to acknowledge their hard work.

Often, the best way to incentivise the people who make your business what it is, is with gifts and bonuses that’ll let them go out and treat themselves with something they really want. Here at SVM Global, you can send your valued employees a gift card or a prepaid card that’ll let them see how much you appreciate their hard work. Get in touch to develop an incentive scheme that’ll work wonders for your team.

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