Top Employee Perks and Incentives that Promote Peak Performance
BY: VESELINA DZHINGAROVA ON MONDAY, SEPTEMBER 19, 2016
When running a small business, you may be operating on a limited budget but you also know that investing in your employees is an investment in your future. It is through the efforts and hard work of every man and women on your team that your business is growing, but from time to time a little ‘pick-me-up’ is needed to drive profits higher while cutting costs wherever possible. This where you enlist the help of the entire team to dig their heels in and work harder while focusing on such things as reducing waste to keep those costs low.
When trying to encourage peak performance from your staff, you might want to give them a bit of motivation to get the ball rolling. Here are a few of the top employee perks and incentives that have proven to promote peak performance. Why not try one or two of them to see just how effective they can be?
High Incentive Prizes
Many times it is important to light a fire under your staff, especially in your sales crew, and so you offer a larger-than-normal prize as an incentive. The goal is to get them into hyper-motivation mode with a prize that could be a once-in-a-lifetime award. For example, a travel agency might offer an all-expenses paid trip for two to Germany for a week which would be something most agents would work long and hard to afford.
It would be even more exciting if the trip was to take place during Oktoberfest because this is the time of year when the entire nation gears up for one gigantic party. What could be more fun than a trip to Germany during this time of festival that is held literally everywhere in the country? Send them to somewhere interesting and off the beaten path where they will get a real taste of Germany and its culture.
Cash Prizes and Bonuses
Some small businesses work to keep motivation high throughout the year so at various times they offer cash prizes for the top performer and bonuses for all employees who meet a certain quota. Whether you are seeking to handle more calls in your call center or close more deals on the showroom floor, cash is always a great motivator. That extra cash to do with as they want is always a nice little perk so if you are looking to kindle a fire under your staff, a cash prize is a sure way to do it.
Recognition and Awards
There are always going to be employees who aren’t motivated by money. Sometimes you will find that recognition is even more important to them than the biggest cash or cash-value award you could offer as a prize. Many employees work their hardest trying to get that coveted ‘Employee of the Month’ parking space or plaque – any open recognition for a job well done.
Often it is the prize itself, such as that trip to Oktoberfest, that stirs your employees to action and other times it’s the thought of being a winner that is the key motivator. In either case, you will find that offering perks and incentives is often just the motivator you were seeking to stir things up, getting your bottom line back on track. These top employee perks and incentives should give you a place to start when looking for the perfect prize to promote peak performance in your staff.
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