Cost Effective Incentives For Your Employees

Cost Effective Incentives For Your Employees

Are you worried about losing your top talent in your workplace? Simple incentives, even those that don’t cost much can be an easy measure to keeping your top employees happy and working for you. KennedyPearce offers Simple, Cost Effective Incentives to help Keep your Employees:

Common Incentives:

  1. blogging-336376_640Training: Training is a great way to improve staff retention. Employees can get fed up if they find are not progressing in jobs, especially those they have been in long term, causing them to start looking for that next challenge in a new job. By providing in house training or funding training programs you are ensuring you employees feel like they are learning and improving themselves. In addition you’ll also be creating better skilled workers for your workforce.
  2. Health and well being: Providing free or subsidised gym membership shows employees you care about their health and well-being. Another idea is to supply your office with free fruit for your workers to healthily snack on throughout the day. After all let’s not forget that healthy staffs are less likely to take time off for being ill!
  3. Flexible Work Hours: It’s a simple perk to offer, but allowing flexible working hours, where employees can choose to start an hour or so earlier or later in the morning can make a huge difference to those workers commuting or those workers with children. Another helpful perk is allowing workers to work from home for a set number of days a week or month. Employees with control over their work schedules should be better able to manage their personal lives and, therefore, be more focused and productive at work

 

Recognition:

thank youPlain old recognition can be one of the best forms of rentention. Being thanked for some hard work, or praised for the skills shown can greatly improve employee motivation and satisfaction. So if you are concerned about losing top talent, a little recognition can go a long way! Here are a few, simple ways in which you can recognise your employee’s good work:

  1. Bonuses – Bonuses are a great incentive to reward employees and also to further encourage them to work hard again next time. Christmas bonuses can be a good reward to show overall gratitude for a year of work. You’ll probably find that rewarding employees with bonuses is much more cost effective than the money you would spend trying to replace them. A retention bonus shows them that you want them to stay and you recognise their hard work.
  2. A letter of appreciation from the company head. A simple note signed from the head of the company, shows gratitude to the employee and also that their efforts are not going unnoticed by even the top dogs of the company.
  3. A department picnic/ lunch outing to celebrate a team achievement. As well as individual recognition, appraising team work also encourages employees to work well in teams and can help with staff bonding. If your team has done a good job make sure you let them know they are appreciated, taking them out for a lunch is an easy way for you to this and a good perk for them!
  4. A simple thank you – The easiest and the most affordable ways to show appreciation, yet many managers overlook this. Sometimes all it takes is a heartfelt, “Thank you, I really appreciate your help, you did a great job on that project!” Just 30 seconds of your time to do this can go a long way to improve your employee’s work satisfaction.

What work incentives do you offer your employees? Let us know @KennedyPearce

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