Engaged employees are the catalyst for your company’s success, but unfortunately, workplace engagement is not that common. According to a Gallup survey from September of 2020, only 36% of employees consider themselves engaged or “highly involved in, enthusiastic about and committed to their work and workplace.” Improving engagement leads to higher motivation and productivity – check out these 5 non-monetary incentives to offer your employees:
Work-life balance is often more in-demand for employees than a bigger paycheck. Offer flexibility to your team, such as opportunities to skip their commute and work from home occasionally or tweak their schedules a bit for personal obligations, as incentives. This will help drive performance and benefit your company by improving retention since employees will be less inclined to go elsewhere and give up the work-life balance.
2. Professional Development
Morale often declines when employees feel like they are in a rut and not growing their skills or gaining worthwhile experience. Ensure your team doesn’t feel like they are in a dead-end job by offering professional development as an incentive. It doesn’t cost you money to let employees tackle new projects, take some additional training on company time, or provide chances for them to lead meetings or give presentations, but it is very valuable to their goals.
Morale can plummet if employees feel their effort is not acknowledged. A simple, but very effective non-monetary incentive is to provide thoughtful recognition to your team for the hard work they do. Take the time to specifically thank each of your employees in real-time after completing major tasks/projects, achieving milestones, or simply going above and beyond. Personalize your kudos, whether in person or via a written note or email, rather than giving a general statement.
4. Additional Paid Time Off
A rested and recharged employee will be more productive, motivated, and engaged than an overworked one approaching burnout. Give your employees additional paid time off as an incentive, such as letting them have their birthday off or announcing they can leave early after accomplishing a goal or surprising them simply because you’ve noticed they’ve been performing so well lately.
5. Room for Passion Projects
Often your employees have professional projects they would love to pursue, but since these initiatives may not necessarily align with their day-to-day priorities, they don’t have the opportunity. As a non-monetary incentive, consider making room for these passion projects. For example, you could permit them to set aside one day per week (or whatever time period is reasonable) to working on those.
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