Bonuses and incentives are a key factor for employee motivation and happiness. These rewards, when aligned with what people genuinely desire, can transform an average workplace into a thriving hub of productivity and satisfaction. Let’s take a look into the types of bonuses and incentives that best resonate with employees' aspirations.
Bonuses
Rewarding excellence and more
Performance bonuses stand out as a highly desired incentive. They're the direct acknowledgement of an individual's hard work and success. Employees relish these bonuses as they provide tangible recognition of their contributions. Managers can set clear, achievable goals, ensuring team members understand how their efforts contribute to the company's success.
A lot of companies offer a bonus for childbirth and for referring a friend, as well as a retention bonus, holiday bonus and an annual bonus.
Company Stock
A gift for the ultimate team players
Profit-sharing plans create a sense of ownership and unity. When employees know they'll receive a share of the company's profits, they're more likely to think and act like owners, driving the business forward. This collective benefit can lead to increased collaboration and a stronger commitment to the company's goals.
Flexible working hours
Valuing time, productivity, and work-life balance
Flexible work hours are a game-changer. They allow employees to balance their professional and personal lives more effectively, leading to improved well-being and job satisfaction. This flexibility demonstrates trust and respect for the individual's work style and personal commitments.
Another huge benefit for employees is when remote truly means “from anywhere in the world”, and not just the possibility of working from home. If you feel like fully remote is the way to go, keep an eye on the nPloy app, something’s cooking.
This is a good place to mention the various benefits when it comes to paid time off - additional number of days, shorter work-week, Friday afternoons off, personal or volunteer days off. Sounds good, right?
And why not include paid maternity and paternity leave? New parents deserve to enjoy the first moments with their children to the fullest and some companies make sure to help them do so.
Fitness and wellness programs
Investing in employee health
Wellness programs reflect a company's investment in its employees' health and well-being. Ranging from fitness memberships to mental health support, these programs show that the company cares about its employees' overall quality of life. This care, in turn, fosters a supportive workplace culture and boosts morale.
Additional health and dental care, as well as various retirement plans are also a common thing in good companies - another sign that your boss cares about you as a person, not just an employee.
Professional development
A clear career path and life-long learning
Our most recent study shows that an opportunity to upskill is among the top 3 most desired additional benefits according to talents.
Investing in professional development opportunities, such as training courses, workshops, or conferences, shows a commitment to employees' career growth. These initiatives allow people to acquire new skills, advance their careers, and feel more fulfilled in their roles.
Travelling & Gifts
From the company’s own products to various vouchers and more
Let’s get to the fun part. A non-stop supply of delicious food and drinks? Check. Gift bags with some of the company’s best products (bonus points if it’s a tech company) or vouchers to buy whatever you like? Yes, that’s a reality for some employees.
Some global companies organise team buildings abroad or allow employees to travel between different countries and work in the local offices.
Bonuses and incentives are powerful tools that can significantly impact employee motivation, job satisfaction, and performance. Expand your search and don’t settle for less - there is for sure a company that has it all.
FAQs
What types of bonuses do companies usually offer?
Common types of bonuses include performance bonuses, holiday bonuses, retention bonuses, and bonuses for referrals or childbirth. These bonuses serve as direct recognition of employee contributions and encourage motivation and engagement.
Why are flexible working hours important for employees?
Flexible working hours enhance work-life balance, allowing employees to manage their professional and personal lives effectively. This flexibility can lead to improved job satisfaction and well-being, demonstrating that the company values trust and respect for individual work styles.
What role do wellness programs play in employee satisfaction?
Wellness programs reflect a company’s investment in its employees’ health, including fitness memberships and mental health support. These initiatives contribute to a supportive workplace culture, boosting morale and overall job satisfaction.
How do professional and career development opportunities impact employee motivation?
Investing in professional development through training, workshops, or conferences shows a commitment to employees’ career growth. These opportunities allow individuals to acquire new skills, advance their careers, and feel more fulfilled, making them more motivated and engaged in their roles.
