Staff Incentive Ideas : Cash Versus Reward Programmes

When it comes to staff incentive ideas, Jarvis Woodhouse have tried and tested various methods. We’d like you to get the most out of your team and that means offering them incentives. The question however arises as to whether you should give cash rewards such a bonus, or other types of incentive such as a trip of a lifetime.  Many staff incentive ideas are becoming stale, used time and time again, so, here’s a look at some different ideas, and also a look into why incentive rewards are almost always better than plain hard cash.

Staff Incentive Ideas

Instead of offering a weekend break to the highest achiever, one method that we have tried and tested is an individual points earning scheme. Employees can be given targets to reach and depending on how well they do they will be awarded in vouchers. This type of scheme is flexible, and it stops one high flyer walking away with cash or a prize. Making your scheme as flexible as possible is also highly recommended. Not everyone wants to go to a rally driving day or take a light aircraft flying lesson. Jarvis Woodhouse can provide you with all the best ideas for your staff incentives, and show you how to organise a points-based scheme so that your employees can track their individual progress online.

Staff Incentive Ideas : Why it Pays to Go Cashlessstaff incentive ideas

Although cash is deemed to be king, in today’s society it is becoming somewhat of a cliché. Research has shown time and time again that merchandise, events tickets and trips will motivate your workforce more than a cash bonus.

Non-cash rewards do a far better job at holding people’s interests than a bonus pay cheque. What you do need to make sure of here is that your rewards are flexible, vouchers that can be exchanged for the trip or experience of the staff member’s choice. If everyone is working to a day at the races, then people who are not interested in race day will not put in the extra effort.

 

Think back to your childhood and Christmas day. What did you prefer to do? Open your presents, guessing what they were, or opening a card with money inside. Gifts make far more memorable experiences in the same way non-cash rewards do for employees. Studies have shown time and time again that employees will work harder towards the chance of a trip or merchandise such as a HDTV than they will if they know they will earn a small cash bonus.

Travel awards are indeed one of the most popular rewards used in incentive programmes especially if it is trip of a lifetime.  So, if you are trying to weigh up the pros and cons of cash versus incentives, go cashless. Jarvis Woodhouse can provide you with the solution you are looking for, with flexible reward and voucher-based incentive programmes for all sizes and types of businesses.

 

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