Some companies may believe the best way to motivate employees is by filling their pocketbooks.
Some companies may believe the best way to motivate employees is by filling their pocketbooks. However, a recent survey shows that firms need to look beyond financial sales incentives.
The latest Randstad Engagement Index found that workers found some of the most effective engagement tactics to be intangible. In fact, 45 percent of respondents said their offices encourage staff members to share ideas and opinions, and another 38 percent noted their employers invest in their careers by offering training, professional development and educational incentives.
"It is important for employers to assess their employees' needs and create programs that stimulate and inspire their workforces," said Jim Link, managing director of human resources at Randstad. "An investment now in … impactful programs aimed at motivating, recognizing and rewarding employees, will help with retention efforts, increase productivity, and boost employee confidence in their companies."
Firms can consider pairing tangible rewards, such as dinners, vacations and sports tickets, with everyday motivational tactics like reviews and positive feedback.