Many organizations across the country have reported that employee productivity is lower than normal, especially since the start of the pandemic. Approaches that have worked in the office aren’t translating the same way in a remote environment. HR leaders are looking for new and creative ways to adapt and incentivize employee performance management. In fact, according to the Incentive Research Program, “…incentive programs can boost performance by anywhere from 25 to 44 percent…”.
Here are a few tips on ways incentives can increase workforce productivity.
- Employee recognition programs: Employee recognition is one of the best ways to increase productivity because it helps them to feel valued and noticed. Examples of employee recognition programs include small gift cards for meeting weekly or monthly goals, or using a traditional “Employee of the Month” system to celebrate their recent accomplishments across the company’s Slack channel. A shout-out at the monthly all staff zoom meeting or lunch for the team that hits a specific goal are great ways to keep employees focused and engaged. With Truvelop, we provide a Recognition Wall feature that allows employers to give employees that company-wide attention.
- Create benchmark incentives for high–ranking employees: End-of-year or quarterly bonuses can be a great way to incentivize high-ranking employees to keep increase productivity among their teams. Awareness of continuous employee assessments pushes leaders to work harder. Truvelop helps employers with these measurements. After every performance review on Truvelop, a grade is given to that employee, which then contributes to their overall employee grade. Tiered incentives based on the performance grade and meeting various benchmarks will help keep higher level employees motivated.
- Health and wellness programs: The pandemic has significantly increased the stress of those working from home. Mental illness is at an all-time high. Employees are serving as teachers and caregivers, sharing workspaces and digital devices, and navigating a new way of doing their jobs. It is essential that employers acknowledge the need for, and encourage, self-care. Providing ways your employees can work on self-improvement and de-stressing will make employees more engaged and focused.
Incentives can help fuel productivity throughout your workforce. To learn more about how Truvelop can help you improve employee productivity, reach out to our sales team today!
