Staff Incentive Schemes
Staff incentive schemes are often important in the battle to recruit and retain the best staff, the usual pay and benefits are no longer sufficient; it is the company that can differentiate their package and engage employees that will succeed.
A staff incentive scheme is perhaps the most straight forward way to motivate staff, butthe scheme's objectives must first be identified: what do participantshave to achieve, how will this be measured and what will they receivein return?
Some typical questions when considering staff incentive schemes are as follows:
- What can the business afford to spend for each lead generated/prospect converted/appointment made/suggestion submitted, etc.
- How will the incentive plan be launched and communicated?
- How long will the employee incentive program operate and how will momentum be maintained?
- Who will administer the employee incentive scheme?
- How will the tax implications be handled?
- Who will be involved in the incentive scheme and who will be ineligible?
- Is the scheme aimed at incentivising individuals or teams?
Love2rewardis the UK's leading provider of multi option gift vouchers. However ifyou are looking to introduce performance related incentives, we canoffer consultancy and cost effective solutions.
The solutions we recommend you consider for staff incentive schemes are listed below, if you would like to speak to a Love2reward representative about how we can meet your requirements, then talk to us today.
Find out more about Staff Incentives, or specifically in the areas of Motivating High Achievers, Rewarding Teams or Improving Staff Motivation.