5 employee reward ideas that will boost productivity

Businesses nowadays need to shine bright when it comes to retaining employees as they are a company’s most precious asset whom need to feel valued and cared for. Productive and successful businesses need their employees to be self-motivated and one way of achieving that is by rewarding them from time to time.

In order to push employees to do their best in every aspect of their job, organisations need to get creative and create opportunities for them to excel and reward them for their work.

Employers should think creatively about employee reward ideas that can help boost their organisations productivity. Here are five ideas you can work around.

Corporate Events

Every employee wants to be appreciated and what better way to reward than organising corporate events. Whether it’s a golf tournament, a formal banquet or a fun filled party, having such events for your employees and their families is a great way to show your respect and appreciate them for all their hard work. You want them to know that you care and by giving them an opportunity to have fun with their co-workers will truly help them to re-energise and give their best at work.

Companies should strive to make it a ritual so that employees actually look forward to such events. The anticipation keeps everyone’s spirits high. Corporate events in London from teamtactics.co.uk are proven to be extremely successful with over 2 decades of success in delivering unforgettable experiences perfect for each client. The London events are versatile and offer unique opportunities to enjoy the UK’s capital city.

Idea Incentive

Creating healthy competition within the company is always a good idea. Employees love bonuses, which can come in many forms. Get all your employees to brainstorm ideas and set a deadline. Get everyone to elaborate on their ideas and select the best ones by voting. Once approved and implemented, give the employee an idea bounty. This way not only will that individual stay motivated, but other employees will also be motivated to think outside the box.

Non- Standard Work Day

Not everyone works well when it comes to a nine-to-five job, it can get a little monotonous. If you have employees who are working on an hourly basis, you should try to set tasks to accomplish within a given period of time. You want your employees to feel a sense of accomplishment because that way they’ll work better by increasing their efficiency. It’s a win-win situation as the daily tasks get done.

Creative Time-Off

Encourage your employees to take their time off and go on a break when they truly need and deserve it. Some companies have started giving their employees unlimited paid off time so that they can think of creative ideas. They believe in giving their team all the necessary tools to be as creative as they want. Another great initiative you could take as an organisation is to give your employees paid time to do some community service. It might seem a little odd, but it’s important because at times employees can’t be creative in the same space so a change is needed to give them that boost. As long as you are clear and have constant communication with them. It will definitely help boost your employee’s morale, which will ultimately help your organisation.

Offer Equity

Every employee wants to be part of an organisation that makes them feel like they are part of something important. One way of doing so is by providing your exceptional employees equity in your business. It will come down to the valuation of your company, but it will truly give your employees the drive to do better as they know what’s at risk. This is a great way of motivating workers as they are equally invested as the owners and want the company to be valued higher. Providing equity means your employees would want your company to be worth more as that’s the only way they’ll be able to take a bigger piece of the pie.

Organisations need to make sure that their employees are always motivated to do their best. At times, this won’t be possible as we live in a world where living costs are increasing and job security is decreasing. You need to create an environment where they will thrive rather than crumble. By providing some sort of reward, you are ensuring that all your employees stay motivated and know that they are being taken care of by the organisation. You need to let them know that as much as they work for you, you work for them.