As a CEO or manager, it is your job to ensure that the company is performing like a well-oiled machine at all times. There are all kinds of factors and elements that go into operating a smooth and successful business, but few can compare to the impact that your actual employees have. Many an insightful CEO or manager has said that a business is a direct reflection of its employees, so obviously the more productive they are, the more successful the business can be.
If you’re looking for a way to increase your employee’s productivity and aren’t sure where to start, you may want to think about incentivizing them. Incentives help to make an employee feel valued and appreciated, which will then be rewarded in the effort they give to their job. Here’s a look at how you can incentivise your workforce.
Offer a Company Car
For many employees, owning a car is one of the largest expenses they are faced with, outside of a mortgage or rent payment. What this means is that if you could offer a way to alleviate that financial burden, they would likely be a lot more satisfied in their job and want to give it their all. Company cars are something that employers have offered for many decades. It can be a milestone that your employees work towards, or something you offer when hiring new talent.
As part of the package, you can also pay for the insurance coverage. You can quickly find a quote for car insurance by model on youi.com so that you’ll be able to budget accordingly. This insurance provider takes into account the distance being driven, where the car is being parked, and other criteria. Plus, there is a rewards system that you can use that will save you money.
Offer Flexible Hours
While not every business will be able to use this incentive, for those who can offer employees flexible hours it will go a long way in job satisfaction, and thereby performance. Again, it’s about showing that your employees are valued and appreciated. Flex hours could mean that employees come in during non-peak/rush hour, stay later at night, work a series of 10- to 12-hour days so as to get an extra day on the weekend, etc.
Thanks to technology, many employers are taking it a step further and not just offering flex hours, but also the ability to work remotely depending on the job. This incentive alone can attract some of the best talent out there.
Offer Extra Vacation Days Based on Performance
There is also the incentive of additional vacation days that are based on performance. Perhaps this means making a certain sales quota which grants one additional day off, going a set amount of days without any errors or customer issues, or any other measurement that you choose. Just make sure the expectations are clearly laid out so employees know what they need to work towards.
Get More from Your Employees
Offering incentives to your employees is truly a win-win situation. They will feel rewarded and appreciated, and in turn you’re going to get an increase in productivity and see greater success in your business.
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