WHAT IS AN INCENTIVE?
WHAT DOES INCENTIVE MEAN?
- An incentive is a thank you to your internal staff for a job well done.
- To encourage third party suppliers to sell your product more extensively.
- A non-monetary reward to those who achieved the assigned targets.
- A exciting and adventurous holiday creating a lifetime memory.
WHAT ARE THE BENEFITS OF DOING AN AN INCENTIVE?
An incentive offers benefits to both your employees and to the business.
Perks and incentives can form an attractive element by;
- Enhancing the quality of working life
- Rewarding employee efforts
- Adding value to the employment contract
- Increased company loyalty
For the business an effective system of incentives could help in:
- Attract people to join your business
- Retain existing employees
- Increase staff motivation, morale and loyalty
- Boost productivity
- Link individual performance to overall company goals
- Focus employees on achieving targets
- Build teamwork
- Increase sales and performance
WHAT MAKES AN INCENTIVE?
There are 5 key areas for a successful incentive, these are:
- The welcoming of winners upon arrival
- Team building
- Gala events