Incentive Schemes

Running staff incentive schemes

Having a good staff incentive scheme can drastically help attract the best calibre of staff to join your workforce. Employees today want more than just a competitive salary; they want additional benefits and perks too.

Companies with good incentive programs are able to keep hold of their most valuable staff for longer than companies without incentive programs. When you consider the many thousands of pounds you would have to spend to find a replacement for one of your most valued employees then it is clear that having a staff incentive scheme makes good business sense.

The bottom line is that staff incentive schemes increase the productivity of staff, improve morale and can help stop good people leaving your company.

Choosing the right incentive

For your incentive scheme you need to make sure that you pick the right incentives as the wrong incentive might cause the scheme to fail. You need to choose something that your staff really want, which is why high street vouchers make good rewards. The most popular gift vouchers given in incentive programs include the Love2shop voucher, Argos gift card, M&S voucher and John Lewis voucher. Other gift vouchers that are becoming increasingly popular are the Asda and Sainsbury's gift vouchers.

Employees want to be rewarded for their loyalty.

Top tips when setting up staff incentive schemes

Have clear objectives before you start, identifying what in particular you want to reward.
Discuss your ideas with your staff, and be open to any negative comments that they might have.
Consider which financial and non-financial benefits your staff incentive scheme will offer.
Decide on the targets you want your staff to achieve to earn a reward, and let them know so they can aim for it.
Research the incentive programs running in other companies, especially those run by your competitors. If your scheme is by far inferior then your incentive program won't make you best staff stay.
Run a trial program before you roll it out. Adjust your incentive scheme and review regularly.

Choosing rewards for your incentive scheme

If you already know which gift vouchers or cards you want to use for your incentive scheme or want to research the different options available then you'll find the perfect solution at HighStreetVouchers.com.

There is an extensive product range of gift vouchers and cards including: