Motivating Your Team to Victory: The Difference Corporate Incentives Create

Throughout every business, employers observe plenty of variance in the performance of their employees. The top-performers are few, but they make it worth your while. The bulk of your employees get their job done correctly and focus on meeting requirements – but are not logging impressive performances. Finally, you have your marginal employees – who simply can’t do or won’t do.

Actually, there’s one aspect that improves employee output in every category…motivation! The ones at the top are most likely intrinsically-motivated, but most of your team can use an external boost. Hence, incentivizing your employees and rewarding them for achieving goals and creating positive outcomes holds the potential to radically improve your business.

Businesses have been utilizing corporate incentive programs for decades to achieve positive results. Furthermore, it is widely accepted that these programs are helping businesses thrive. Given this fact, you may ask yourself, “Why aren’t more businesses taking part in these programs?”.

Why These Programs Fail and How to Do it Right

The answer lies in implementation. Many employers out there simply do not know how to structure an incentive program that appeals and connects with their employees. Some companies also use the wrong type of incentives when motivating their employees. Becoming frustrated and overwhelmed the company ultimately scraps the program altogether.  Keep in mind the research displays that maximum productivity stems from offering rewards that employees care about. Hence, these programs need to be set up carefully by professionals.   

Corporate Incentives – The Missing Ingredient

When most employers look at purchasing products and services – they look at the cost. Actually, there are better ways to analyze corporate incentives. Furthermore, incentive packages are a major investment in your company with potential for redeeming impressive returns!

Interestingly enough, employees are displaying a major preference towards travel incentives. The Incentive Research Foundation states that 85% of employees they survey prefer travel incentives over cash.

Utilizing travel incentives helps your employees by:

  • Creating priceless memories for them when they go on the bucket list experience
  • Providing them with a goal to strive for
  • Enhancing engagement – fewer absences, feeling more connected to the employer
  • Allowing for recreation – leading to stress-relief, fewer distractions, renewed interest in work activities
  • Fostering friendly competition – employees competing to see who can produce more and earn the incentives
  • Greater employee retention – employees enjoy a greater work-life balance and feeling like they have a life outside of work

Ultimately, these programs lead to happier employees. The result is a more productive team of employees that are with you for the long-haul.