One of the most essential parts of nurturing your team is keeping their morale high, along with their loyalty and dedication to your business. A big contributor to this increased morale is rewards and perks that you offer them for high quality work. There are many different things you could offer your employees but it’s important you choose the right perks to suit your entire team. We’ve put together our top picks to help you decide on some great ideas to boost the morale and the performance of your team.
Perk Package Programmes
If you’re struggling to decide on a specific type of perk, which is especially difficult when your team is quite large, there are some great options in the form of complete perk packages or benefit schemes that offer everything from freebies to discounted grocery vouchers, and experiences. Signing up to a package programme will allow your employees to benefit from some of these brilliant perks to improve their quality of life and save some money.
Salary Sacrifice Schemes
A very popular choice of perk incentives are salary sacrifice schemes. This is where your employees can choose to take out a loan of sorts on a particularly large purchase and the repayments are taken straight out of their salary. For example, you could sign up to the Pink Salary Exchange car scheme, to encourage your team to purchase electric or hybrid vehicles. There are an incredible number of benefits to choosing a scheme like this too. One of these is that an employee will ultimately save money as the deduction is taken from gross salary as opposed to net salary, which will reduce the employee’s national insurance and tax contributions.
Team Outings And Events
Events such as meals and nights out can be a fantastic way to encourage stronger bonds between your team, which can lead to much better working environments. If all of your employees treat each other like strangers, their desire to work well together is going to be fairly low. Events like this, as well as team-building days can be a great way to bolster chemistry within your team. But don’t forget, if your team is global or live far apart from one another, there will be a lot of people missing out on these perks and that could cause divides among your workers, so choose wisely.
Bonuses And Other Incentives
A tried, and true method of incentivising good work is by providing bonuses. You could consider offering monthly monetary bonuses based on targets to encourage your team to work harder to benefit from those increased paycheques. Deciding on how to provide these bonuses for your employees isn’t easy, but there are a few methods that you could make use of. For example, you could set bonus tiers for the number of sales your team makes, going up in increments of £100. Of course, you could even choose vouchers here to save your employees on having to pay extra tax due to their bonuses, although many still prefer to have the money and suffer the added tax. Alternatively, you could also offer time off as a bonus. If people manage to hit their deadlines and beyond, you could offer extra days of holiday for your team to enjoy some time recharging and unwinding.