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Advice on How to Incentivize Your Employees

William D King

Giving employees incentives to do their best work can be challenging, but it’s worth it!

Disengagement at work is costly, not just to the company in terms of productivity but also to employees in terms of lost opportunity and potential earnings. So, keep your employees engaged and dedicated to your business’s bottom line.

You don’t necessarily need to spend thousands of dollars on gifts or other things to praise your employees. If you are a small business, consider non-monetary options. 

Let’s take a look at some incentive options by William D King of ABA that will make your employees happy:

Non-Monetary Incentives

 Say “Thank You”

A simple “thank you” can go a long way. A study found that employees are more likely to stay with the company and feel motivated to do their best work when appreciated.

Praise In Front of Others

This is a great way to show your employees that you notice their hard work. It also has the bonus of making them feel good in front of their colleagues.

Give Them More Responsibility

Additional responsibility translates to trust. It sends a valuable message to the employees that you think they are capable of more than they might have thought. This motivates your employees to do their best.

“Employee of the Year” Award

Showing your employees that their efforts don’t go unnoticed boosts their productivity. William D King says it also gives them something to strive for throughout the year.

Monetary Incentives

Bonuses 

You can give bonuses quarterly or yearly, depending on how often you want to reward your employees.

Profit-Sharing

According to William D King, this incentive allows employees to share in the company’s profits. It motivates them to work harder because they know their efforts will directly impact their earnings.

Employee Discounts

Giving your employees discounts on products or services helps them save money. It makes them feel like they are part of the company and helps them stay loyal to your business.

Fun Gifts

William D King believes giving your employees something fun once in a while is an excellent way to prevent work stress. It could be anything from a gift card to their favorite restaurant to tickets to a sporting event.

Travel Incentives

You can offer travel incentives to reward employees if your company can afford it. Since COVID-19, many people have been itching to travel. So, a company-sponsored trip would be a fantastic incentive because it would give your employees something to look forward to.

Free Snacks and Drinks

Everyone loves free food! Giving your employees tasty snacks to munch on, a fridge stocked with drinks, and a coffee station will make them extremely happy.

These are just a few incentive ideas to get you started. Finding out what works best for your business and employees is important. Remember that different things motivate different people, so try to offer various options. Survey to find out what your employees would like. With e creativity, you can create incentives that make your employees work hard and feel appreciated.

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