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To motivate and retain employees, and generate high-performance, employers must use incentives. It has long been debated whether non-monetary reward is a better motivator prize money or vice versa. Again and again, research has shown that most employees are not motivated solely by the amount on the paycheck. However, many employers still use the prize money as the sole source of motivation or the motivation of the first, instead of considering the options for financially aware as non-cash prizes.
Perhaps you, as an employer has decided to upgrade your incentive program, but just never had the time to start this project. Here are some tips and basic information that can help you get started.

What should be rewarded?

Ask yourself what behavior you are an employer, through a program intended to reward incentive. Do you want to reward employees for their effect on bottom line performance, or how they live the company values? This question can be divided into two categories: performance-based bonuses and rewards value-based.

Performance-based rewards – such as sales exceed expectations – can easily be rewarded with cash. This means that they are rewarding behaviors that give rise to an economic advantage for the company. The use of performance-based rewards can be good when you want to achieve specific objectives and generate a lot of cases, however, these types of rewards can easily create a competitive environment among employees.

Value based on the rewards can be more subjective. They recognize behaviors such as teamwork or traits, such as ability to build morale, and should not be cash-based work effectively. Values based on the rewards are to create and establish a strong corporate culture and help future long-term objectives.
That rewards should be given?

Know that every employee is different, and therefore the priority of different things in life. Some will be motivated by higher pay and some are motivated by a part-time job.

It ‘important that you understand your employees and what motivates them. To do this take into account demographic and psychological factors. For example: an entry-level employees with a lower income level may require more basic and would prefer the money, but an experienced and well-established higher income might prefer something with value Trophy which improves their self-esteem.

To explore these psychological factors, just ask employees what kind of behavior that I want you to recognize, and how. The investigation takes the guesswork out, and employees appreciate the fact that you have requested.

Communicate the rewards

People tend to repeat a behavior when they are rewarded for achieving this particular way. How motivated is a function is clearly the link between premiums and benefits, and how rewards are valued.

As for the incentive program is communicated is crucial in making the whole project really works. Premiums for specific performance or behavior should be clear to all employees. For example: If you use performance-based rewards to motivate staff to achieve sales quotas some call it, it should be clear to employees how many calls you expect from them. They should also know what happens if you do not reach the proportion of calls, or what happens if you come to it with a big exception.

The easiest way to communicate the incentive program through the creation of a company policy, which shows the specific behavior, what the objectives are and what will be rewarded for their achievement.

The power of non-cash prizes.

Let the power of non-cash prizes. Maritz, a sales and marketing company focused on the motivation of employees, recommends the use of prizes not in money, because there is clear separation pay. Employees to manage money, regardless of when it was offered as compensation. This makes the instrument less of an incentive and reward as a form of compensation for the hard work is already done.
In search of the Hay Group approximately four million people around the world, shows that some of the most common reasons for leaving an organization are linked to non-financial issues. These include: the lack of opportunities for career development, working poor weather, lack of challenging work, organization management and lack of recognition. To work more closely with these problems could lead to greater employee retention.

My experience with this topic I will leave the candidate has shown a long-term career positions with benefits packages, well-paid high wages to try new positions and duties. When I interview candidates, and subject to refund, most of our candidates say they are flexible depending on the circumstances of the available position. Also, when you talk because they have left their old job, many candidates talk about the environment and atmosphere or of specific missions and tasks, rather than pay and benefits.