Advantages of staff perks and incentives
Benefits of offering effective staff incentive schemes and perks for employers and employees.
Employers can use perks and incentives to motivate their staff and encourage positive behaviours from workers that contribute to the success of their business.
There are various types of incentives, perks, and rewards that businesses can introduce to the workplace. You could introduce recognition incentives that thank staff for doing a great job, eg, employee of the month or achievement certificates. You could also offer reward incentives, which usually present staff with an item of value that demonstrates your acknowledgement of the job they are doing and is often rewarded once certain targets or goals have been achieved or exceeded.
Staff perks: business benefits
An effective system of staff incentives and perks brought together in an attractive employment package could help your business:
- attract new staff to join your business
- retain existing staff
- increase staff motivation, morale, and loyalty
- boost productivity
- demonstrate your gratitude for a job well done
- link individual and business performance
- focus employees on achieving targets and goals
- encourage and build effective teamwork - see how to build and manage an effective team
Introducing perks or staff incentives to your workplace does not have to cost a lot of money. Some very effective perks cost very little, eg, a staff discount on products or services your business sells or flexible working options for staff.
Some incentives and perks may benefit your business indirectly, eg, free health assessments may reduce staff absence and sickness.