Corporate incentives boost employee morale. Want to retain staff and win and keep more clients? Then you need to make employee incentive programs part and parcel of your business strategy.
Here are five ways that corporate incentives can benefit your business and help you reach your company goals.
Motivate Your Teams
COVID-19 has affected businesses and organisations globally. The shift to home working has been necessary but hard to adjust to – and so it’s important to make your teams feel like they’re part of something.
Hosting a virtual party at the end of the week would give employees something to look forward to. Most importantly, they’d feel recognised and rewarded – which would reflect in their work and interactions with customers.
Work More Productively
Are your teams working together? Many UK companies have a divided workforce comprising remote workers and on-site teams. This can lead to misunderstandings and errors that lead to inefficient decisions being made.
In some cases, a ‘them and us’ culture can develop. The cause is often limited interaction, with employees liaising mostly via a video link. The agenda is usually business, meaning people don’t get to know one another.
Corporate incentives help facilitate team bonding and create stronger connections between on-site and off-site teams.
Improve Employee Loyalty
Your business invests a great deal of money and time into its employees. Creating a happy workforce that delivers great service is its unerring aim. And that’s why it’s heart-breaking when a team member leaves to work for a competitor.
Corporate incentives foster a sense of belonging, so that team members feel part of the bigger picture. In a nutshell: a happy employee is a loyal employee who will act as the best possible ambassador for your brand.
Create Mutually Beneficial Relationships
Businesses and organisations work best when people pull together. All it needs is a kink in the chain to send efficiency and profits into a decreasing spiral. That’s why corporate incentives matter. They encourage teams to interact on a personal level that transcends hierarchy and which deepens personal connections.
In short, virtual and in-person team events break down barriers. Employees who understand and like one another will be more productive – no matter what role they perform within your business.
Make Work a Fun Place to Be
Businesses exist to make money. But that will only happen if team members feel happy, valued, and rewarded. If employees regard work as something of a chore, their motivation will drop off. And this mood can be contagious – eating deep into the company culture to the detriment of productivity and profit.
Introducing employee reward schemes – or hosting virtual and live events – is a great way to show you care. Make work fun, and everyone wins, your business, your teams, and customers too. Isn’t it time to embrace corporate incentives as part of your culture?
Searching for event management agencies in the UK to help you incentivise your team? Then look no further than What an Event. We specialise in corporate incentives for businesses like yours, including virtual events and outdoor team-building activities. Contact us to learn more.