While it’s nice to know that your staff are enjoying the work they are employed to do, apparently this isn’t enough to make sure they stay motivated over the long term.
According to Ixaris’ 2013 Study of Rewards and Incentives, four out of five workers would like to see a rewards programme put in place to emphasise the fact that their efforts are properly appreciated.
Nearly 5,000 employees across five countries were polled on the issue – which aimed to delve deeper into what employers could do to motivate their workforce.
The results are worth reading, too – with almost 70 per cent claiming that they would happily put extra effort into the job that they do if they had the proverbial carrot dangling from the end of a stick.
However, it appears that the carrot shouldn’t simply come in the form of a cash bonus – with over 70 per cent saying that a financial incentive would be treated in much the same way as regular pay.
Similarly, gift cards for a specific retailer don’t go down too well with workers – with the research suggesting that many would feel disappointed if this was presented as their reward.
One option for bosses is that of an open gift card – one which can be spent anywhere as opposed to a single store or chain.
This alternative incentive was supported by two-thirds of respondents.
Similar research recently conducted by the Institute of Leadership and Management found that – contrary to the Ixaris study – job enjoyment was the main motivational factor for workers.
Other elements of work likely to keep staff working hard included emotional reasons, like how well each member of the workforce got on with each other and how they were treated by their bosses.
So next time you think about how to reward hard work, it might not be as simple as it seems.
Posted by the Secret Businessman