Employee Incentives That Benefit Employers Too

Your employees are working hard now that the holiday season has begun.  What employee incentives are you using to motivate them to the finish line?  Increased productivity may pay for their bonuses and then some, but there are many ways to recognize your employees’ efforts. Here are some employee incentives this holiday season to make your workers feel appreciated.

Give Them a Cash Bonus

It may cost the most, but it is still the most effective straightforward employee incentive for motivation and morale.  44 percent of workers say they would quit their jobs to earn more money at another.  Cash incentives can persuade them instead, to stay through the holiday rush.

Extra Time Off – One Of Several Employee Incentives That Motivate

When workers pull overtime hours or an incredibly long shift, even more attractive than cash in hand might be time off their feet.  The employee incentive of additional time off after the holidays can make up for the crazy hours during the holidays. It at least lets them know you recognize the hardships they endured and appreciate them.  Some employers give an extra paid vacation day or two.  Others increase sick days or give more flex time. Of these, the most popular with workers is the flex time.  CNBC reports 72 percent of workers prefer a flexible work schedule over full time in-office work.

Throw a 100% Tax Deductible Party

Did you take your holiday party virtual in 2020 and then sort of left it out in 2021?  Here’s a thought:  Offsite Holiday parties are a great opportunity to help your team relax together and build a cohesive bond, and they are usually completely tax deductible for the employer prior to January 2023.  The food does need to be purchases from a qualifying restaurant, meaning a business that prepares and serves food and drinks for immediate consumption whether on or off-premises.  This is strictly limited to meals, not to entertainment venues.

If you are confused about when the 100 percent applies, you can find the details here or call Americore to learn more about where the savings are this holiday season.

New Equipment

There are programs that can help finance new equipment, and the productivity boost is not the only benefit you’ll enjoy.  Employees working through the holidays will be more enthusiastic about straining to reach goals with new efficient equipment.  Talk to your workers to find out what their concerns are before making the final decision.  They are on the machines, and could have valuable feedback to share.

Professional Development Opportunities

Offering workers employee incentives like the opportunity for professional development can help raise morale and motivation at work.  As a reward for working through the holidays, supply chain organizations, for instance, could offer choices of development paths.  Complimentary classes, training seminar attendance or the chance to temp in another department are various motivational options.

Recognition

There’s an old phrase, praise publicly and correct privately.  By recognizing a job well done, you raise at least one employee’s morale, and create a friendly competition that leads to better performance by others as well.  The praise can be on a Bulletin board, or “Wall of Fame” or announcement, a bonus, vacation day or material prize.

Benefits That Prove An Employer Cares

If your employees have a great attitude and are performing well this holiday season, let them know you appreciate it.  It doesn’t have to be as expensive as you think.  Ask Dennis Bays about how offering healthcare benefits can not only improve employee retention, but give you cash back too.

There are many ways to let your employees know you appreciate them.  They may add to productivity and morale, but some can also put cash in your pocket.  Contact us or call our Americore office at 747-224-8110 and learn which programs can save you money too.