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
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
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.
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.
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.
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