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Three Alternative Incentives To Motivate Employees

In the modern age, finding incentives to motivate employees is important for any business owner. The key to success in this area of employee engagement is to find incentives that effectively motivate while not being too costly. After all, the goal of motivating employees is to add and not detract from your company’s bottom line.

Motivate Employees with Alternative Incentives

alternative incentives

Motivate Employees with Incentives

Total HR Management offers three potential alternative incentives to accomplish this goal. Although there are many others that we can brainstorm with your company in regards to your overall industry and specific business model, these three possibilities are a good start.

The key is to raise employee engagement by expressing and demonstrating value. When employees feel that they are valued, performance levels increase and productivity rises. Since everyone worries about money, financial incentives are consistently effective. Indeed, beyond improving employee engagement, such incentives are another edge in the recruitment and selection process.

Three Ways to Motivate Employees

  1. Commuter Advantages

Long commutes are difficult for anyone. If a number of your employees have long commutes, you can try to improve those commutes by offering advantages. For example, you can team up with an audiobook provider to offer a significant discount on the best material, both from an entertainment and an educational perspective. Moreover, you can offer to subsidize a portion of monthly expenses for tolls. If employees are paying tolls to get to the office, such an incentive is a big deal because they are reminded of the company’s support on an almost daily basis.

  1. Discounted Services

Whatever services or products your company offers, your employees should be getting them at a decent discount. For example, if you are an automobile company, you can provide service and maintenance discounts to your employees. Also, complementary services by other industries often can be provided as well. For example, airlines team up with hotel chains to provide significant discounts to their employees. Moreover, if there are stores in your company’s building or around the neighborhood, you can negotiate discount incentive deals for your employees. The stores get more business while your employees feel like they are saving money by getting a negotiated discount on certain goods and services.

  1. On-the-job Volunteer Opportunities

Volunteering is good for both employee morale and the reputation of your company in your local community. It’s not that expensive to provide a certain number of hours each month where the employee can volunteer time during the workday to specific community nonprofits while still being paid. If you don’t want to institute it monthly, it can be done quarterly or even be a one-time incentive to open the door to future volunteer work.  Millennials and Generation X employees want more than just a paycheck. They want to feel like they are part of something bigger than their job. By supporting volunteer efforts, a company shows they care not only about employee morale but also about the community as a whole. It connects your employees to the macrocosm and provides value.

Help Motivate Employees Today

To learn more about these alternative incentives, please contact Total HR Management today. Please call (800) 975-5128 today to speak with an HR professional and access the help your small to mid-sized company needs.

 

 

 

No Legal Advice Intended: This blog includes information about legal issues and legal questions.  Such materials are for informational purposes only and may not reflect the most current legal developments.  These informational materials are not intended, and should not be taken, as legal advice on any particular set of facts or circumstances. You must not rely on the information on this website as an alternative to legal advice from your attorney or other professional legal services provider.

 

 


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