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Many companies, especially large ones, employ some type of incentive scheme to motivate their top performers to reach new heights and lead the way into the future.
This is an important gambit, and necessary if a manager wants to truly tap into the potential of his or her workforce. The latter applies acutely in the context of sales and the development of new opportunities.
Related: How to keep winning talent and maintain engaged staff
Increasing company’s productivity
What is missing from the above picture, however, are those who fall outside of the top performers’ club, but nonetheless are vital to the functioning of a dynamic and competitive organisation.
Is there some of way of inspiring them to push the envelope and increase the company’s overall productivity?
I’ll answer that in a minute, but first I’d like to pause for a moment to relate why the motivation of non-top performers is so important: Simply put, not everyone can be at the top, but a culture of appreciation is regarded as being essential to personal motivation in the workplace.
Here are a few statistics developed from various surveys:
- 82% of surveyed individuals believe thatrecognitionacts as a powerful motivator;
- 78% of employees regardacknowledgmentof good work as being “highly” and “very” important;
- Almost 20% of talented employees leave their posts due to having good work overlooked;
- 92% of employees have reported that they work harder to achieve goals when incentive programmes are in place.
A culture of appreciation
As a culture of appreciation leads to more productive work, more profitable work and employee retention, companies implementing effective incentive and rewards programmes continually outperform those who don’t.
Offering incentives that move beyond the top 20% of performers is therefore an absolute necessity in keeping general motivation high.
Rewarding exceptional work
Now to answer the earlier question: One of our most successful strategies is to use a clear and well-designed programme where all individuals in a group stand to be rewarded for good and exceptional work.
One of our products that works well in this context is a wideranging online catalogue offering tangible and desired goods in exchange for points earned.
Gift card solution
Another product that we use regularly in this context is a gift card solution where cash is uploaded onto a personal (but company branded) gift card that can be used at any MasterCard accepting vendor.
Related: Lifetime memories that drive profit margins and productivity
The latter products can be implemented across a variety of departments, and can be well targeted at those to whom acknowledgment is important despite their not being at the top of the performance rankings.
To bring out the best in everyone employed in an organisation, ensure that you recognise the good work they produce, even if only a small or symbolic way.