Employee Reward Schemes That Produce Results

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Motivating employees and keeping them motivated is a science that is being studied by untold numbers of experts. At the very minimum, employees have to pay a premium. HOWEVER; There are a number of common employee rewards schemes.

The Periodic Cash Bonus

The first and most common is the basic periodic cash bonus. Stop and think about it for a moment. If you give an employee a raise of say, one dollar. At forty hours a week, fifty two weeks a year, one dollar pay raise adds up to well over $ 2,000.

The Benefits Of The Cash Bonus Employee Reward Scheme

That same $ 2000 dollars can be given out in four $ 500 bonuses that can be tied to performance. So if the bonuses do not produce the desired effect they can be stopped, unlike a pay raise. So that's the theory behind cash bonuses.

Nothing Is Free In The Workplace!

Another thing to consider, as it pertains to employee rewards schemes. For instance, if you buy a coffee pot and put it in a break room, it should be delivered to employees as a reward, even if you plan on using it.

The Work Related Gift

Still one more employee reward scheme or tactic, rather than giving gifts of cash in the form of bonuses, to give materials or tools that are used on the job. For instance if you are a construction company, a nice new saw or a drill might be this type of poison. You get a better employee and write off on the tool purchase.

Company Get-Togheters

Company outings and get-togeters are a great employee reward scheme. For instance, you may want to sit back and enjoy the evening with your friends. In a casual relaxed environment.

A Great Time to Meet Employees Families

So it's great to meet and interact with your friends and children, which promotes your business as a family oriented business. At the same time, these types of events are going to be a great time to hand out cash bonuses.

Getting the Most Bang From Your Bonus Buck

Wives can be a great motivation factor when it comes to a husbands work performance. You see, there's no guarantee that it's a cash bonus. After all, it means that you have two people appreciating the bonus.

Time Off Employee Rewards Schemes Cost Nothing

Time off has one of the least expensive employee rewards schemes out there. Granted, it can be managed correctly, but it can not be managed. Consider giving high performance employees know that if they ever need a Friday or a Monday off for a three day weekend, so you can schedule it in advance.

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Source by Chriss Tyrrell

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