Studies show that employees who are rewarded for going above and beyond are more productive and satisfied, show greater loyalty and are more willing to contribute in an impactful and meaningful way.
Recently, Stan Shimizu a Resourceful HR consultant was interviewed for a podcast about enhancing employee engagement: Show Your Team You Care–And Not Just About Deadlines. You can listen to the podcast here. http://www.pmi.org/Movies/Podcasts/PMI%20Panel.mp3
The following also outlines some quick tips on how to increase employee engagement and motivation through non-cash incentives:
- Consider non-traditional incentive systems. Research shows that generations X and Y want different things than prior generations. For example, years of service awards like clocks, trophies and plaques, may not be rewarding to a new generation of workers especially since more people are working in shorter stints rather than long-term periods. Here you will find more information about the nuances of Generation X and Y. http://springboard.resourcefulhr.com/?p=389
- Solicit feedback. The best way to find out what motivates an employee is to ask them.
- Incent the behavior you want to drive. Create a clear plan for rewards that is tied to strategic goals and activities. Rewards given haphazardly will not have the long-term effects you desire.
- Be creative. For instance, a company we have worked with created dollar bills with the CEO’s picture on them and implemented a system and criteria in which employees earn these dollars. The recipient buys something of his or her choice and turns in the receipt along with the company ‘dollars’ for reimbursement. It’s a very fun, popular program among the staff that drives loyalty and increased performance.
- More ideas. We share more tips on how to motivate employees here http://springboard.resourcefulhr.com/?p=35
