Nothing motivates us to work extra hard more than knowing there’s going to be a reward at the end of the tunnel. If you find yourself needing to give your employees that extra push, incentives are definitely an effective positive reinforcement strategy.
However, what might motivate one person won’t necessarily motivate another. Here’s a few key tips to consider, when creating your incentive program:
Tier the gifts.
Tier the gifts by cost. The more results an employee gives (whether it’s more sales, more leads, more deals, etc.), the more lavish their incentive reward will be.
Achieve certain goals to “Tier Up”
Tailor this to your business model. Perhaps five accounts need to be closed by a certain date, or new prospective leads need to mutually engage with your company, a certain number of times before you can swim in the sweet pool success, known as a conversion. Overall, always correlate the effort and outcome of the employee’s action with the price point of their gift.
Save points to go for a higher item later.
When your employee performs successfully, employ a point system. If they’re only working for a lower tier gift and have enough points for it, then they’ve earned it. However, if employees would rather save for something more extravagant, provide that option through something tangible and quantifiable, like points.
Now that you have your system in place, it’s time to choose appropriate incentive gifts. Below are suggested options for a multi-tier incentive plan for every budget.
- A half day of work.
- Company swag (such as a nice jacket or bag – avoid t-shirts).
- Lunch with the company president. By dining with the company’s top representative, your employee can feel a sense of recognition as well as a confidence boost to continue their hard work.
- Sandwiches and beers at the team’s favorite hole-in-the-wall bar. Many times, having everyone in your team work towards the same goal may prove more productive than competing against one another.
- Wine tasting or Etched bottles. Remember, pinky out.
- Designer travel bag, or another designer accessory.
- Theme park tickets.
- Spa Day.
- Personal photoshoot with a professional photographer.
- Private Helicopter Ride.
- Private Boat/Yacht Ride.
- Private Sailing Lesson.
- Vacation package (flight, hotel, and some spending money).
- Shopping spree with a personal stylist.
I don’t know about you, but we’re feeling pretty motivated to work hard and play even harder.
Do you need some company related swag? We can help with that.