Implement staff incentive schemes

Introduction

Introducing an effective system of incentives and perks can help you to recruit and retain valuable staff, reward performance and productivity. It can also help you get the best out of your employees.

Incentives are rewards relating to certain goals. Perks are benefits on top of basic salary. Incentives and perks can be financial or non-financial. You can also have individual and group or team incentives.

This guide will help employers understand the benefits of offering incentives and perks whilst outlining the different options available. It will also look at how you can decide what to offer and how to monitor the effectiveness of any selected scheme.

Subjects covered in this guide

• Introduction
• The benefits of staff incentive schemes
• Incentive schemes and the options
• Perks and the options
• Setting up an incentive scheme for employees
• Ensuring the incentive scheme is successful
• Here's how a staff incentive scheme improved our business

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