A huge part of leading is being able to motivate those you lead. It’s not always easy to figure out, but it is always, always worth it once you do. Loving your team to serve better, to work harder, and to win bigger is going to benefit everyone. Here are five ways you can incentivize your team that will increase productivity and create results where everyone wins!
Personal Incentive – These are the incentives that show how well you know your team. If you have an assistant that loves dark chocolate and cool pens, you keep a stash of both in your office. This may be considered bribery as much as incentivizing but the personal touch and the fact that you’ve already invested in the items shows that you believe in your team, you care about them as individuals, and you want to see them happy.
Celebration Incentive – If a goal is reached, it’s lunch on you. Order in and take the time to set up wherever you’re dining together with visual reminders of why they’re there. Maybe the team increased in sales 30% this month. 30% should be the theme of the lunch. The atmosphere should be party-like and celebratory. Add in some silly awards, and laugh with your people! With this incentive you’re knocking out two birds with one stone: Rewarding your team AND creating unity. A team HAS to spend time together. It’s called the fun factor, and every good leader uses this strategy. Celebrating is the best kind of hang out!
Revenue-Based Incentive – Higher level team members or team members that have been with you for a long time typically have more skin in the game, so it only makes sense that their incentive creates a feeling of ownership. Sharing 1%-5% of your company’s gross profits quarterly is a great way to incentive your leadership circle so that they are pushing as hard as you are!
Recognition or Reward Incentive – Gone are the days of employee of the month… or are they? You would be SHOCKED to find out how many of your team members would get excited to have their name in your company newsletter, on the website, or announced at a staff meeting. Throw in a $20 Starbucks gift card and you’ve got an incentive that affirms a team member while creating a healthy level of workplace competition.
Personal Development and Higher Education Incentive – As a leader you’d be crazy not to go for this one! Create an opportunity for your team to grow in their sweet spot! When you invest in their skill, you’re also investing in your business! I know very few people that wouldn’t jump at the opportunity to grow their expertise or better their knowledge. Purchase them a seat at a conference (virtual or live) that is all about honing in on helping them be the very best at their skill. Talk about feeling VALUED! This is the very definition of a win win situation.
I think you’d agree that those are all pretty simple ways to incentivize your team! Which one will you try today?
By Somer Phoebus|2020-05-08T13:28:27-04:00December 19th, 2017|Business|Comments Off on Loving Your Team and Bettering Your Business: Five Simple Ways to Incentivize Your Team
Somer Phoebus is an entrepreneur, the Executive Director of Business Growth for swHw, a pastor's wife, and a mom of 2 teenage girls. Her areas of expertise are productivity, brick + mortar business, start-ups, and profitability. Grab Somer's free resource here and find out how to fix the top 5 productivity problems for the working woman in less than 5 minutes!