Incentivizing Employees Without Cash
Believe it or not you can motivate your employees without increasing salaries! Small and large companies alike can find other ways to incentivize their employees. PrideStaff Financial has some great incentive programs that work for just about every business.
Take a tip from Google.
Have you ever seen the movie “The Internship”? Two middle age guys decide to take a new direction in their careers and get an internship at Google. The office environment that is displayed in the movie is not a far fetch from what Google actually does to incentivize their employees. It’s all about the office amenities. Ping-pong tables, pool tables and beautiful cafeterias are the just the beginning of what Google offers its employees. Daycare facilities, a cafeteria with healthy food options, on site gyms and even free parking spaces are offered. Some companies have even started adding bike paths around the properties and “borrow a bike” options for those looking to get some exercise during their lunch breaks. It is well known that exercise increases endorphins and helps reduce stress. These types of amenities can have a positive effect on employee morale and production.
Offer education or training incentives.
A study done through Harvard Business Review found that 60% of employees surveyed stated they are more productive in companies that offer extra education and certification programs as part of incentive packages. Depending on the business you run, tuition reimbursement programs or paid certification programs are a great incentive tool for your employees. People like to learn, to grow and to move forward. Offering some type of educational incentive or further training in their desired skill set is a great way to allow employees the chance to grow. This also gives your employees motivation to stay with the company long term.
This concept is not new, but it has gained great momentum over the last five years. Industry players are utilizing the concept of “Lean In” and work/life balance as extra motivation and incentive for their employees. One individual in particular, Sheryl Sandberg, whose book “Lean In: Women, Work, and The Will to Lead” draws on the fundamental principal of establishing a work/life balance. Being flexible to your employees’ needs and their life situations is vital to reducing burn-out and employee disengagement. Employees can’t be in fear of taking time off, utilizing vacation, using flex hours to accommodate family needs or work remotely. A work/life balance will not only make your employees more productive, but will make you a competitive player when it comes to bringing in new candidates.
These options are great incentives to your employees without increasing salaries. While you may not be able to incorporate all of these suggestions, utilizing one or two and implementing change slowly will give your business the foundation it needs to become a better work environment and a competitive player with future candidates.
PrideStaff Financial’s focus is on what you value most. Our unique combination of staffing expertise and financial knowledge allow us to provide the services you need. Contact us today to learn how we can help you with your staffing needs.