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Win-Win: Corporate Incentives and How They Benefit Your Company
Any business owner, whether it be small or large, can recognize the benefits of having engaged employees and a positive work environment driven by teamwork and effective communication. It has now become more or less common knowledge that employees who feel valued, bring more value in return to the company itself. Some of the most successful companies in the world like Nike, Netflix, Google, Microsoft and so on, use corporate incentives to motivate and actively recognize the work put in by dedicated employees.
“An incentive is an object, item of value or desired action or event that spurs an employee to do more of whatever was encouraged by the employer through the chosen incentive.” (TheBalanceCareers)
This could mean anything from the occasional company-funded team building vacation, monthly gift cards and rewards for high-performing team members, gym memberships, gift bags, etc. The thing is, it doesn’t really matter what the incentive is. What matters is that there is an incentive at all. Let’s take a look at two of the ways they can benefit a company:
Work – Life Balance
Data has been collected that shows that companies where employees feel a balance between their personal lives and work lives, have shown up to 21% higher performance rates than companies where employees aren’t feeling a healthy balance in their lives.
There are many ways to help fulfill these needs with your employees, whether you’re a start-up business or a Fortune 500 executive corporation, corporate incentives don’t necessarily require a huge payout. Encouraging employees to work from home a few days a month, to set their own office hours according to their personal schedules (some of us aren’t great at mornings, what can you do?), the offer of a certain number of paid “wellness days” a month, or even some help paying for a gym membership.
Eradicate “Blame Culture” by Celebrating ALL Ideas
Sometimes companies miss out on some of the best ideas from their team members because many may feel the fear of failure, and choose not to step up to the plate when it comes to offering ideas. Establishing an idea-positive workplace, for example by having an “idea jar” with a draw at the end of a month or a quarter for employees to win a fun prize, incentivizes team members to vocalize ideas that maybe they wouldn’t have otherwise. This kind of corporate incentives program also works to encourage teamwork and communication. Whether ideas succeed or fail, encouraging employees to use their voices allows them to feel recognized and valued, in turn creating a happier work environment!
In short, incentivizing employees offers all kinds of benefits to any type of company atmosphere by allowing the team to feel heard, capable and above all, valued. Plus, introducing corporate incentives to daily life within the work place adds some fun, new things to look forward to outside of regular routine.
Here at the Erica Maree studio, which doubles as a bohemian fashion and accessory shop in beautiful Puerto Vallarta, we work with corporate incentive groups and individual companies to create gift bags and packages for team members. We’ve worked with big companies such as Ford, GMC and large American banks, and presently work with organizations such as Cultivate Accent Performance Group, and Heaven Hills Distillery to create personalized and original corporate incentive gift packages like the one you see below.