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The Power of Recognition & Why Employee Incentives Rule

Your company’s success depends on your employees’ performance.

To retain a quality workforce, you need to maintain company morale and offer opportunities for recognition and growth.

How do you create a mutually beneficial environment that encourages professional development and teamwork, while challenging workers to excel?

One effective way of meeting your goals and boosting company performance is with employee incentives.

Here is how incentives can work to help your business achieve its maximum potential.

The Power of Employee Incentives

Why are employee incentives often used in employment retention plans?

Because they work.

Why do incentive programs work?

Because they satisfy people’s need of recognition for extending extra effort.

Financial rewards, such as increasing one’s pay or adding bonuses to their check, is often believed by well-meaning employers to be enough. And while adequately compensating employees is crucial to increasing loyalty, it’s not everything.

Money doesn’t give your employees their time to shine. It doesn’t provide them attention for a job well done. Financial rewards often are silent ways of showing appreciation, but incentives give employees a chance to be publicly recognized and celebrated for their role in company success.

People are driven by experiences and feelings. When they feel appreciated, it makes the experience more meaningful.

Recognition is a powerful motivator. If you want your employees to go the extra mile, you need to give them a good reason to reach higher.

How to Create Incentives

1. Set Goals for Employees

Use your incentive program to help your company excel by setting clear goals that contribute to overall success.

This not only gives your employees an idea of what to work towards, it also minimizes room for favoritism or biases, which can contribute to an overly competitive and hostile atmosphere. When there is a clearly defined goal to achieve, it eliminates leader prejudices because the incentive is reserved for whoever meets the goal. Fairness is paramount in any effective incentive program.

2. Encourage Teamwork Towards Achieving Goals

Incentive programs can be used to boost morale and help foster relationships among coworkers when the goal requires teamwork.

This will also keep workplace jealousy at bay because the winning team is not exclusive of just one worker. When staff relationships are strong and people enjoy working together, they are more likely to feel connected to their jobs.

By setting team oriented goals, you can accomplish wins for the company while encouraging positive work relationships at the same time.

3. Choose Valuable and Appropriate Employee Incentives

You can’t reward employees whenever they get to work on time, but you can reward perfect attendance for the month. Make sure that the goals you set to reward are appropriate and worth recognizing as exemplary performance standards.

Also, be sure to choose incentives that your employees will value. Most employees won’t be compelled by another company pen. But everyone appreciates being awarded time off or a free meal. If you want your employees to work for something it should be something that they will want to work for.

Wrap Up

When you have employee incentives in place, your employees will feel acknowledged and driven. You will notice the benefits of recognizing hard work, and you will gain loyalty that is vital for your company’s growth.

Need help hiring motivated employees? Get in touch!

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A Contingent Worker Vs FTE: 5 Challenges for Managers

Is having a mix of contingent and full-time workers stressing you out?

A contingent worker is often a valuable aid for a business. One study finds that 40.4% of workers are contingent in the United States. These workers don’t follow the same long-term schedule a full-time employee will.

Every business faces a challenge at some point. It can feel overwhelming to manage an ever changing workforce. Learning how to overcome the challenges of managing different worker types is essential.

Here are five challenges you’ll face managing contingent workers vs full-time employees.

1. Which Contingent Worker to Hire?

Your business hires full-time employees for different departments in the company. There are various types of contingent workers to consider.

The first type of contingent worker comes in to fill worker gaps. A fill in worker knows the working partnership is for a short period of time.

A value added worker is one who prefers contracting without full-time employment.

The third type of contingent employee is one with specialized skills, a leader in their field. These workers are often brought in on a project basis. Recruiters find these specialized workers for small and large scale projects.

2. Ensure All Parties Learn the Same Onboarding Information

The last thing you want in the workplace is misinformation. What makes matters worse is if your company is the one misinforming employees.

You’ll need to ensure contingent and full-time workers have the same onboarding information. Contingent employees that have questions can ask employees who’ve already seen the material.

Not every company can keep their handbook the same for decades. Ensure all workers stay informed on any company-wide changes.

3. Keeping Track of Workers

Contingent workers may find themselves in the field rather than the office. There is a wide array of technology to use with a contingent workforce.

Keep track of all workers through using a human resource management system. Enterprise resource planning software is often used with contingent workers. This software helps a business manage where and when workers need to handle their tasks.

4. Collaboration During Meetings

Many full-time employees have the standard meeting schedule down. New workers need time to adjust to where, when, and how many meetings your company has.

The contingent workforce often feels like a group of new kids at a school. Include a workspace where contingent and full-time staff can interact with each other.

Ensure every contingent worker has a line of communication with full-time employees. Having current employees shadow contingent new hires is a great idea.

5. Building the Right Relationships

Over the next three years, 83% of executives plan on hiring more contingent workers.

The era of the contingent workforce having small numbers is coming to an end.

You have an endless amount of possibilities when planning a work event. It’s best to include food and games with these events, make a day out of it. Social events are a way to let contingent workers and full-time employees mingle.

Are you in need of contingent employment? Please get in touch with us to find out how to land a career in the IT and engineering fields.

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