A happy workforce is a motivated workforce, and a motivated workforce means much better productivity and work output. So it’s not just generosity which should lie behind investing in employee benefits; every pound spent is an investment into your human capital.
But not all employee benefits platform providers are created equally, nor are they all similarly effective in helping build a happy workforce. Here are some incredible ways in which incentives can be deployed to make staff as productive as possible.
All jobs are strenuous in their own ways – whether it’s working long shifts on a factory floor or farm, or spending fourteen-hour shifts sitting at a desk, work has a habit of taking its toll on staff. And whilst staff welfare is always paramount, it’s doubly important because when physical problems get out of hand they can put staff out of action. That’s not good for them and it’s not good for the business.
So to boost productivity, work on improving staff fitness and health. This can be as simple and cost-effective as offering yoga classes and exercise sessions at lunchtime or in the morning – all that’s needed is an empty space and someone with some training. For a more elaborate way of working on health, gym memberships or funding for personal training can be introduced. Studies suggest that exercise can boost mental acuity, so not only are your staff less likely to need time off for health issues, but they’ll be working at their optimum level too.
When staff feel like their performance is rewarded rather than taken for granted, they’re much more likely to go the extra mile. And performance bonuses remain the best way of showing this. Whilst it’s important to ensure that the bulk of compensation is a fixed salary, bonuses can go a long way to making staff identify their own hard work with that of their firm.
A linked tool is stock options. Though they might not be suitable for every company, stock options are the ultimate way of incentivising staff productivity in growth-intensive businesses where there’s a good chance of a public flotation at some point in the future. Google, Amazon, Apple and others have all used them to great success, and with good reason – they cost a company little upfront but can build enormous goodwill with staff.
Unlimited Time Off
The concept of unlimited leave has been a controversial one in managerial circles, but companies which have adopted it have generally seen very positive results for productivity. Vacations recharge workers, and a refreshed and energised worker is much more likely to contribute meaningfully to a business than a tired and jaded one.
Unlimited time off essentially means treating workers like adults – trusting them to make sensible decisions about which times it’s sensible to focus on work and which times self-care should take a priority. Workers generally never take unreasonable amounts (and unlimited time off is always at managerial discretion, meaning the system can’t be exploited) and it’s an instant boost to morale and productivity.