From The Owner's Desk

Why are Employee Incentives so Important for Boosting Productivity?

Motivation is a very important dimension of employees’ ability to perform their tasks or functions, which is why when you have a motivated team it shows not only on their morale but also in the quality of their deliverables and productivity levels.

Disengaged employees cost U.S. companies up to $550 billion a year (The Engagement Institute)

Now more than ever, it is crucial to take care of the happiness and motivation of teams in companies, because the pandemic brought with it changes that can affect their performance.

What are employee incentives?

They are additional gestures or benefits that are given to employees in order to recognize their achievements or the great work they have done for the company. These serve as a positive stimulus to improve their performance.

Why are they so important?

Here we have a few reasons:

  • They promote worker productivity on a large scale.
  • They improve commitment to work performance.
  • They reduce absenteeism levels.
  • They help maintain punctuality.
  • Decrease employee turnover.
  • Increase employee retention.
  • Boost employee morale.
  • They help improve the work environment.
  • Attract the best human resources available in the market.
  • Make employees feel an important part of the organization.
  • Discourage undesirable workers from remaining in the company.
  • They are a great way of distributing success among the people responsible for generating it.

Why are they so important?

Here we have a few reasons:

  • They promote worker productivity on a large scale.
  • They improve commitment to work performance.
  • They reduce absenteeism levels.
  • They help maintain punctuality.
  • Decrease employee turnover.
  • Increase employee retention.
  • Boost employee morale.
  • They help improve the work environment.
  • Attract the best human resources available in the market.
  • Make employees feel an important part of the organization.
  • Discourage undesirable workers from remaining in the company.
  • They are a great way of distributing success among the people responsible for generating it.

What types of incentives are there?

There are mainly 2 types of incentives:

Economics incentives: these are those incentives that are associated with an economic retribution to the usual salary they receive and have a notable impact on labor productivity.

Non-economic incentives: these are those benefits that improve the working conditions of employees and help to improve the ties between the staff and the company.

Some examples of employee incentives

We share with you 5 examples of employee incentives that you can take into account, because a happy employee works harder.

  1. Employee Recognition Programs: Recognizing the contributions made by employees with Creative Employee Recognition Incentives Ideas is important to remind them how important they are for the future and success of the company. 
  2. Learning Programs: These types of programs are ideal for retaining and nurturing the company’s talent. In addition, they allow employees to learn relevant skills to continue growing in the workplace.
  3. Time off: Rewarding employees with a day off, chosen by the employees themselves when they reach certain goals, is one of the incentives that teams value the most.
  4. Team building activities: Team building activities help to improve confidence and foster team spirit and rewards them with a retreat or trip.
  5. Wellness programs: These programs help reduce employee stress and fatigue levels, and considering their health and needs shows the company’s appreciation for them.

No matter what type of benefit you choose to incentivize your employees, remember that at Active World we have a wide range of products and services that can help you provide them with unique and personalized experience.

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