Incentivizing employees without costly incentives programs

When it comes to encouraging the best workplace for your employees, smart business owners turn to competitive pay, healthy benefits, and a few additional perks, such as paid holidays and performance-based bonuses. But in today’s day and age, it takes more than traditional methods to keep workers happy and willing to stay with a company for many years. 

One of these methods is mentorship. Nurturing the growth of your employees is pivotal for a number of reasons:

• it makes people feel valued and worth investing time into;
• it creates a sense of community and tight-knit bonds among staff;
• and it sets them up for performing better at their job and feeling empowered by their success.

If mentoring sounds like a huge responsibility, it’s really not. It can range from regularly scheduled check-in’s, to just taking the time to offer advice when you notice a fellow employee struggling. And it’s not limited to the traditional model of senior level staff leading junior level employees. Today it’s common to find peer mentors, or coaches. Additionally, mentorship can—and should—be a two-way road. While one person may have more years of experience in a certain area, another person may have a better grasp of a new technology. Ultimately, mentorship is about fostering positive growth for greater performance, and thus increased levels of job satisfaction. 

Offering flexible work hours is another great way to incentivize employees. Everyone’s lives move at different paces, especially when juggling work and family. Many organizations today are implementing flex hours to relieve some of the pressures of operating in a rigid timeframe. Obviously, your business has its regular hours of operation, but be sure to work with your employees (whether they’re part-time or full-time) to find a common ground that fits their lifestyle. They’ll be happier in the end and you’ll see greater job performance. When organizations demonstrate they care about employees’ lives outside of work by allowing them to create their own schedule, they drive autonomy and long-term dedication.

While these have been around for years, employee recognition programs have worked wonders without relying on financial rewards. They’re built to recognize and reward staff who go above and beyond to advance the mission of the business. This is a fantastic way to let employees know their ideas have been noticed and their contributions are valued. Whether it’s an employee of the month wall for the trainers at your gym, or a special celebration for instructors who put in extra hours with students, finding fun and easy ways to recognize staff will go a long way toward encouraging them—and others—to reach certain performance levels. And consider taking the recognition even further by including the employee in your next newsletter or by posting about them on social media. Getting noticed in front peers or your community gives that extra boost of confidence.

When considering ways to show your employees they matter to you, think about what will work best for your organization. Some businesses rely on costly reward programs that lead to short-term performance results. To truly incentivize employees for the long-term, don’t depend on financial payouts—use tactics that foster intrinsic happiness, in order to boost job satisfaction and create a culture driven by enthusiasm and commitment to company core values.

Recommended Article: What makes a Quality Employee?