The business world has always been renowned for its competitive nature, yet nowadays, organisations compete against each other for much more than just sales. From establishing the best price for similar products/services to onboarding and retaining the best talent – competition is natural when dealing with market economies.
However, without the right employees, an organisation is nothing since the success of a business is directly linked to the employees within. Therefore, for organisations to expect the best from their staff, valuing their team and offering employee incentive programmes are essential to inspire employees to work towards optimal performance.
Fortunately, there are many ways that organisations can offer incentives that attract and retain employees that go beyond bonuses or raises, from investing in employees’ professional development by providing eLearning courses to health and wellness incentives. If you’re interested in discovering the most innovative employee incentive ideas available for your organisation, keep reading.
Invest In Professional Development
One of the leading causes for employees to look for another job is a lack of professional development opportunities in their current role. Especially in this generation of employees, professional development is one of the most valued aspects of their job, as it proves that their employer is invested in their growth and encourages them to remain in their role for much longer.
Not only does offering professional development opportunities benefit your employees, but in the long run, it benefits your organisation. Since you’ll benefit from the new knowledge, skills, and experiences that professional development provides employees.
There are several ways that businesses can engage employees in professional development, from connecting staff with mentors, offering coaching programmes, or offering eLearning courses through providers like iHASCO.
Learn more about the rewards eLearning courses can provide your staff members by visiting their website, where you’ll be able to browse their complete course offerings, read client reviews, and much more. Consider browsing their site or connecting with them directly to broaden the professional development opportunities your business offers today.
Don’t Forget Social Recognition
Let’s face it, we all love money as much as the next person, but sometimes nothing beats being actively praised for a job well done instead of receiving a tangible reward. Money matters in a person’s life, but it’s not the only thing that matters, and sometimes social recognition is a much more effective incentive than a little extra in your monthly pay packet.
Even if it’s something as simple as an in-person thank you, a shoutout in the business messaging programme, a praiseful email, or a note left on the person in question’s desk – social recognition can be enough to keep someone motivated.
Offer Health And Wellness Incentives
Another incentive you can offer to attract and retain top talent is business health and wellness. On average, employees will spend around 3,507 days at work; during this time, it’s only natural that they experience days in which they cannot perform at their peak due to injury or sickness.
To prevent this, organisations must offer health and wellness incentives to encourage employees’ optimum physical and mental health. You could do this by providing on-site health screenings, free healthy lunches, rewarding wellness milestones like giving-up smoking, and many more.