Employee incentive programs are helpful tools that keep teams motivated to achieve quarterly performance goals.
The winter holidays can be a difficult time for managers. There is a lot of pressure to meet end-of-the-year goals, but teams can be hard to motivate as employees seek to enjoy the season. Vacation days and holidays can reduce productivity by keeping essential personnel out of the office. Fortunately, there are ways that businesses of all sizes are able to overcome the various challenges presented during this time of year.
Employee incentive programs are helpful tools that keep teams motivated to achieve quarterly performance goals. At the end of the year, they can be particularly effective as workers understand it is a great time to complete sales. A little extra inspiration can have a big influence on productivity. This holds true in every industry. All businesses are looking to wrap up major projects and meet their own goals, making November and December extremely busy times.
Succeeding in improving performance during this time requires a strong commitment from everyone. Incentive programs let firms set clear expectations for staff members, while highlighting the importance of meeting these goals. However, HR Morning reported that an infographic from Yast showed one clear reason why organizations should implement a year-end reward program – employees want it.
Personalize end-of-year rewards to improve programs
Seventy-nine percent of workers want end-of-the-year rewards, according to the graphic. The initiatives help to keep them motivated and engaged during a very busy season, while providing a show of appreciation. The source stated that it wouldn't take much to brighten the holidays for staff members. More than half (55 percent) stated that just $25 would make the holidays a little nicer, while 85 percent said that less than $100 would meet their expectations.
Businesses could get even more value from their programs by offering personalized rewards. Cash has a tendency to be spent quickly and just as easily forgotten, but something that an employee will use repeatedly over the next year will increase engagement. It can be difficult to find the right item for each worker, but there is always the option of letting staff members select their own rewards from a collection of merchandise. This ensures that everyone gets something that is useful without requiring a lot of time and energy from managers during a busy holiday season.
If possible, consider allowing personnel to receive their rewards before the end of the year. Some may want to use this process to secure a nice gift for a love one. Having the flexibility to do this will increase their satisfaction and appreciation for their hard work.