Staff incentives are another great booster for the friendliness of the working environment. Staff incentives need not impact on profitability, but rather enhance it. There already exist many low-cost incentives used by business managers today, for example:
- Flexitime can allow staff greater freedom in their work-life balance. Generally, employers require staff to be at work during certain core hours, with flexibility built in around these times.
- Transport loans can be cost-effective and easy to implement: your company pays up front for travel costs and then recoups the money through monthly payroll deductionscan include season ticket loans.
- Gym memberships are now very popular, and if you have a health club near your office, this is a relatively easy perk to implement. Negotiate a staff discount and then pass the savings on to staff.
- Giving extra holidays is an effective way of rewarding long service or loyalty. It doesn’t cost anything, as long as you don’t need to employ a temp to cover any shortfall in work.
- Handing out Performance awards in a relaxed, social setting is a fun, low-cost way to recognise hard workers and gives employees something to strive for. An engraved plaque and a voucher for a local restaurant won’t break the bank and will be greatly appreciated by the recipient