Has your team ever suffered from a lack of commitment?

[fusion_youtube id=”oIq23u0UiYg” alignment=”center” width=”” height=”” start_time=”” end_time=”” autoplay=”false” mute=”false” api_params=”” title_attribute=”” video_facade=”” thumbnail_size=”auto” margin_top=”” margin_bottom=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” css_id=”” structured_data=”off” video_upload_date=”” video_duration=”” video_title=”” video_desc=””][/fusion_youtube]

If so, you have probably seen the effects in the form of higher turnover and lower productivity in the company.

Disengagement can result from not feeling motivated, ineffective management or misalignment within the organization.

So what can be done to keep employees engaged? Incentivize them effectively. 

Incentives are ‘rewards’ that serve to give employees something to strive for and provide tangible recognition of their good work.
When offered an incentive, 85% of employees feel more motivated to do their best.

When choosing incentives for your team you have to make sure that they match the wishes of your staff and are in line with the values of your company.

Research from Cornell University has shown that rewards increase motivation by linking a task and a goal, so employees who are rewarded more frequently are more motivated to complete the associated tasks.

Organizations that use employee incentive programs record a 79% success rate in achieving the goals set when the reward was offered.

Let’s take a closer look at these rewards:

Incentivising employees effectively requires both social and monetary recognition.

Social recognition, in many respects, is even more important than financial recognition!

In fact, as Harvard Business School researcher Amy Whillans said, ‘money is important in people’s lives, but it is not the only thing that matters.

Social recognition is a low-cost way for all organization members to publicly express their gratitude for other team members.

A McKinsey survey found that companies can achieve a 55% improvement in engagement by offering social recognition.