It is easy to give people incentives, but are those incentives creating the impact you want? This presentation shares how you can make incentives meaningful and in turn retain employees.
3. Why do we really need
to give incentives?
in•cen•tive
in-ˈsen-tiv
noun
a thing that motivates or encourages one to do something.
“employees have an incentive to increase their sales”
synonyms: inducement, motivation, motive, reason, stimulus,
stimulant, spur, impetus, encouragement, impulse
4. 5 Tips to Make Incentives Meaningful and Retain Employees
Reward and Recognition
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6. 5 Tips to Make Incentives Meaningful and Retain Employees
Incentives of the past,
present and future
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7. 5 Tips to Make Incentives Meaningful and Retain Employees
Why do incentives matter?
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—Ralph Waldo Emerson
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8. 5 Tips to Make Incentives Meaningful and Retain Employees
Incentives help companies recruit
new talent and retain current talent.
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9. 5 Tips to Make Incentives Meaningful and Retain Employees
If you don’t incentivize,
your competition will nab your talent.
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10. 5 Tips to Make Incentives Meaningful and Retain Employees
Good incentives will get your
desired outcome.
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12. Tip 1: Make it
personal
For employees, the recognition is as important as the reward. When you
tailor your incentives to match the employees and their contribution, you’ll
get an additional boost for the recognition.
13. 5 Tips to Make Incentives Meaningful and Retain Employees
Recognize Good Work
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15. 5 Tips to Make Incentives Meaningful and Retain Employees
How You Can Make it Personal
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16. 5 Tips to Make Incentives Meaningful and Retain Employees
How You Can Make it Personal
● Give personalized gifts
● Match charitable contributions
● Offer continuing education
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17. 5 Tips to Make Incentives Meaningful and Retain Employees
Care is Motivational
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—Larina Kase, Ph.D., The Confident Leader
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18. Tip 2: It’s not all about
the money.
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—Professors Scott A. Jeffrey
and Gordon K. Adomdza, Human Performance.
19. 5 Tips to Make Incentives Meaningful and Retain Employees
Offer flexible hours and
work/life balance.
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—Richard Martin, Alcera Consulting Inc.
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20. 5 Tips to Make Incentives Meaningful and Retain Employees
Thank your employees personally.
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22. 5 Tips to Make Incentives Meaningful and Retain Employees
Make work a great place to be.
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23. 5 Tips to Make Incentives Meaningful and Retain Employees
Give your employees growth
opportunities and chances to advance.
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24. Tip 3: Institutionalize
your Incentives
While it’s great to reward your employees uniquely and personally, it’s also
important not to create too many one-off perks. Haphazard rewards are
inefficient and can create confusion for your employees.
25. 5 Tips to Make Incentives Meaningful and Retain Employees
How to Create a Perks Program
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1. Make it transparent
2. Make it flexible
3. Make it fair
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26. 5 Tips to Make Incentives Meaningful and Retain Employees
Perks You Can Institutionalize
● Flexible Vacation Days
● Flexible Bonus Spending
● Bring the Perk In-House
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27. Tip 4: Measure the
success (or need for improvement) of your
incentive program
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33. Tip 5: Don’t Forget
Your Culture
Your incentive structure is a reflection of your company culture. How you
manage and deliver perks is one way to make your company stand out.
34. 5 Tips to Make Incentives Meaningful and Retain Employees
Inject Culture into Your Incentives
ZenPayroll: At ZenPayroll, we have a special monthly award given to an exemplary
employee, voted on by her peers. The winner gets a $1K bonus, $500 of which is to be
spent on the office at her discretion.
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35. 5 Tips to Make Incentives Meaningful and Retain Employees
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36. 5 Tips to Make Incentives Meaningful and Retain Employees
Why it Matters
Culture is the differentiator between you and your competitor, which can be
impactful to hiring and retention in this improving job climate.
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37. What can you do today to
make incentives work for
your company?
38. 5 Tips to Make Incentives Meaningful and Retain Employees
Thank you!
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39. 5 Tips to Make Incentives Meaningful and Retain Employees
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40. 5 Tips to Make Incentives Meaningful and Retain Employees
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41. 5 Tips to Make Incentives Meaningful and Retain Employees
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