Ideas for business incentives

You many already have an existing rewards scheme in place or perhaps you think your company could benefit from having one. Either way it can be difficult to know what sort of approach will be the most appropriate and cost-effective for your business. Here are a few ideas to help you get started.

Vouchers – a voucher scheme is simple yet effective and has the added bonus of being easy to implement too. Vouchers can be used as a stand-alone award or as part of a wider incentives scheme. A single store voucher can add a personal touch to a reward, while a capital bond multi-store voucher gives the employee a choice of around 160 high street stores in which they can redeem their voucher. Either approach is great if you would like to ensure your employee treats themselves to something they wouldn’t otherwise buy or if you think they would prefer to use the money towards something more useful. Another idea is a luncheon voucher that can easily be spent at over 33,000 food outlets around the UK and these can form an effective part of an incentive or flexible benefits scheme.

Reward cards – a step up from the voucher, a reward card offers you more flexibility and has the advantage that it can be topped up again and again. A compliments card can be used in over 130 high street and online stores and offers greater security than a voucher. The cards can also be topped up at any time online and the total sum does not have to be rounded up to a fixed amount as with vouchers. Offering further flexibility is the incentive award card which works as a prepaid MasterCard or Maestro. These cards can be used anywhere that accepts credit or debit cards, you can manage the balance online and even opt for a customised design. For something a little different, a compliments experience card offers a wide range of exciting activities such as skydiving or a simple relaxing spa day.

Online – if you are looking for a system that is more personal and engages your employees through regular contact then an online system could offer the perfect solution. Using an online reward scheme means it can be accessed by multiple users and from any location around the world. Awards can be distributed via a personalised email and easily redeemed online with a wide choice of retailers. This type of system is easy to manage, reduces paperwork and allows you to easily monitor the success of the scheme. Having the ability to contact large numbers of people makes it ideal for large organisations.

About the Author

There are lots of ideas for employee incentives from a simple compliments card to more complex online reward systems. Search online and you will find a range of services that offer assistance in setting up such a scheme in your company.

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