subject: Business Strategic Consulting Tips Employee Incentives [print this page] According to business strategic consulting professionals, one of the easiest ways to get your team to perform is by using the power of incentives.
People have the notion that incentives are given in cash. Though this may be true in some cases, there are really two types of incentives - one that is monetary and one that is not. Though money is a great thing to give, especially in such a volatile economy, non-monetary incentives are just as welcome by company employees. Whatever the case may be, your incentives will boost performance.
When choosing the incentive to provide, it helps to ask for opinions from your employees. Focus Group Discussions on incentives will give your employees the impression that their opinions matter and will not only win you points in their books, they will be much happier employees for it.
You should be able to gather a good opinion of what employees want as an incentive by sending out a survey. When you send out an incentive survey, you should add more non-monetary items. This way, your employees will be more likely to expect non-monetary incentives rather than monetary ones. This covers another business strategic consulting tip which is to balance out your costs.
Use your incentives to give employees the opportunity to reward each other. You can create simple cards that say something like "Best Person to Ask" for example. As an incentive, employees can be encouraged to give this to someone who deserves it. It may not seem like much but it will give them the opportunity to acknowledge someone's influence on them and it will boost the morale and performance of the person who was given the card.
Don't overcomplicate your incentives. The more complicated it is to get an incentive the harder it is to make sure the qualifications are met. A simple requirement, like getting a sale before lunch for example is simple but specific. You can then give a similarly simple incentive such as dress-down pass for Monday as an example.
Adults in general adhere to the concept of WIIFM. This means that they will generally do something when they know what they can get out of it. Employee incentives don't just help you feed this notion, they also help you boost employee morale and therefore create happier, better performing workers. As business strategic consulting, incentives are definitely something you should administer.
