Employee Incentives You Can Use To Reward Performance

Employee incentives are an important tool not only for the Human Resources department but also as a strategy for companies to maintain the support and loyalty of their employees. Depending on how they are implemented, employee incentives can be quite effective in motivating and driving employee productivity. Here are some examples of employee incentives you might want to consider:

Money
Money is the most common employee incentive used by companies for the simple reason that it is simpler to reward and its effect is felt immediately. This is often the case with sales-related performances where companies opt to reward employees for going beyond their sales target or for bringing in profitable businesses.

Company gifts
These are some of the simplest rewards that can be a part of your employee incentives list. These can include company-issued plaques, jackets, shirts, pins and hats, to be issued only to employees that have reached a certain level of performance. These rewards may either be used to reward employees that reach the first tier of your scaled incentive program or they may be given to supplement other rewards.

Gift certificates
As a non-monetary employee incentive, gift certificates make wonderful rewards for excellent work performance. They also don’t have to have a very high value as long as they offer access to special items such as a fancy restaurant dinner, a shopping spree at a favorite store, a big discount at a specialty shop or a tutorial lesson.

Travel incentives
Travel incentives work well especially since they offer time away from work, allowing the employee to relax and have a good time as reward for a job well done. This employee incentive can range from a short weekend trip to an all-expense paid tropical vacation.

As an employee incentive, travel can be very effective if it is also scaled in value. Depending on the desired result, travel may progress from local destinations to more exotic locales, commensurate with the employee's performance.

Time off from work
This is a simple non-monetary incentive for employees who have perfect attendance or have no tardiness record for a year. Day off certificates may be issued and the duration can vary, depending on the company. Employees may choose which day they prefer to use the day off, provided they inform the office ahead of time.

Family-oriented incentives
A great way to say, 'Job well done!' to someone is to let his family know how much his performance is appreciated. Include the employee's family in the reward, regardless of the monetary value. It can be as simple as inviting the employee's family members to the awards ceremony, treating them to dinner or sending them off to a family trip.

A points-based employee incentive program
One of the challenges of designing an employee incentive program is creating one that will not only measure performance effectively and fairly but also give employees something that they find meaningful. A points-based system that rewards employee incentives is an effective way of monitoring progress and allowing employees to choose which rewards they prefer, simply by earning rewards points and redeeming them at a later time, when they choose.

Employee incentives don’t really have to be very expensive. Although a simple praise often will suffice for an employee, nothing beats the feeling of being appreciated and rewarded for an excellence performance. Plan your employee incentives to reward exceptional accomplishments to motivate your employees and raise productivity in your company.

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