How to reward and incentivise your employees
Employee rewards and incentives refer to various programs, benefits, or offerings provided by a company to recognise, motivate, and retain its employees. These are often designed to acknowledge exceptional performance, boost employee morale, and encourage desired behaviours or outcomes within the workplace.
You may be in a HR or employee engagement role wondering ‘How can I reward and incentivise my employees?’ There are several effective ways to reward and incentivise your employees from recognition programs, monetary rewards and personalised awards to professional development, wellness programs and team building activities.
FMI can help you to provide the most effective rewards and incentives that align with your specific needs and business objectives. It’s important to continue to improve and enhance your reward and incentive initiatives to keep your employees engaged and motivated.
Incentive and reward ideas for your employees
There are potentially hundreds of ideas when it comes to rewarding employees, here are a few ideas from our experienced team at FMI that your business could use to incentivise and reward your employees. All tried, tested and proven to be effective.
Employee Recognition (Monthly/Quarterly/Annually): Highlight outstanding employees through a formal program and reward them with a special instant reward code, gift cards, or a personalised award. When embedded in company culture as an always-on employee recognition scheme these programs can be highly effective. Consider bringing together your winners face-to-face with senior management to make them feel truly valued.
Team Rewards: Encourage collaboration and success by rewarding entire teams for meeting collective goals with team lunches, outings, or team-building activities. We’ve taken winning teams on many exciting and prestigious experiences from trips to Iceland and Cape Town to fast car driving and football stadium tours. Team rewards don’t have to be big budget but can have a long-lasting effect on employee engagement.
Wellness Programs : Offer gym memberships or access to wellness seminars as incentives for achieving specific health-related goals or targets. Reward employees with wellbeing related gift cards or e-codes to align with your program and company culture. Organise a company yoga afternoon or active volunteering session to keep staff feeling fit and healthy.
Company Merchandise: Provide branded merchandise, tech gadgets, or personalised gifts as tokens of appreciation for outstanding performance. Everyone loves a branded hoodie, travel mug or water bottle and it keeps your brand front of mind with employees. Be tactical as to how you award company merchandise and consider sustainability by choosing recycled and reusable items and eco-led supply chains.
If you would like more incentive reward ideas for employees, please contact us to talk to one of our employee engagement experts.
Incentive & reward programs from FMI
As one of the UK’s leading incentives agencies we have years of experience designing and managing incentive reward programs for employees. We offer varying degrees of support from designing, building and managing large corporate reward programs to light-touch incentive structure recommendations, best-advice, data reporting and reward management.
Our employee incentive and reward services include:
Our services are bespoke and tailored to your specific needs to ensure that any incentives and rewards offered to your employees really hit the spot and generate the desired results.
We helped one of the UK’s leading telecommunications providers launch and run an 8-week sales incentive program that culminated in a group travel trip to Bali. It saw significant employee engagement and resulted in a 225% sales uplift on the previous benchmarked period. Client feedback was very positive “Huge thanks for hosting a fabulous trip for our team, we really enjoyed the itinerary and everyone had a fantastic few days with a lifetime of memories!”.
We work with businesses to boost engagement and do this through creative and highly targeted employee communications combined with aspirational rewards. We know how to launch an employee incentive as well as the right time to apply a tactical incentive or spike activity to drive results.
Our robust, online platforms can help present leaderboards to track performance, celebrate team progress and announce winners and top performers. Fully secure and data privacy compliant our platforms are used and tested by the likes of BP, Huawei and LG.
All our programmes have data at their heart, and this is used to not only measure the results of employee incentives and rewards but to structure an employee program that is attractive and aspirational, thus motivating and exciting employees today and beyond.
We look forward to starting our conversation, where we will help you to pinpoint and prioritise your issues and needs, define your requirements and propose the right solution for you to effectively reward and incentivise your employees.
Contact us on email@example.com to get started.