How to Incentivize Your Employees to Meet Ambitious Targets
February 28, 2020
When you’re trying to operate a fast-paced and dynamic business, you’ll know that setting short-term goals is essential to keep you moving. Keeping that momentum and a sense of purpose is also a great way to motivate staff, building ambition and agility into their working routine, and providing them with a sense that they’re contributing to the good of the company for which they work. But to motivate your workers to hit your targets, you may need to offer incentives to get them over the line – and that’s where this article comes in, providing options you can utilize to incentivize workers to meet your objectives.
Meanwhile, you’ll only be able to motivate your team to pull in the same direction regarding your goals and objectives if you’ve aptly communicated what it is that you’re looking for from then. All too often, the urgency and clarity with which you arrive at decisions in the board room are diluted by the time it feeds down to the staff. You need to find a way to remedy this error in communication.
One way to do this is through accurate and well-developed OKR software. This will enable you to centralize your communications – from managers down to your junior workers – to ensure that everyone’s singing from the same song sheet and each staff member knows what they’re working towards every week.
Everyone likes to be rewarded for hard work, and having that carrot dangling invitingly in front of employees, helping them strive towards your goals, will be incentive enough, for many, to work that little bit harder. The only contention, then, is what kind of reward that you should offer your staff. Well, here are some options for glistening carrots that might serve to motivate your staff:
- Pay raises and bonuses – monetary rewards that reflect into salaries or yearly extra pay
- Holidays and days off – a reward for hard work put in to meet a deadline
- Staff parties and events, to celebrate as a team for all the hard work put in over a period of time
- Perks like tickets to sports event, theatrical performances, or gigs
With all of these reward-based incentives, you’ll need to be sure you’re rewarding the right people – so ensure that you’re able to monitor who deserves your rewards. If you do this, you’ll prevent accusations of unfairness or bias in the workplace.
Finally, there’s nothing like upgrades to your material circumstances – as a firm – to show that the hard work that your staff are putting in is valued, and is being reinvested in the company, and their own wellbeing. Whether this translates into new office spaces, better office décor, or new hardware for your staff to work with, it’s an important part of your incentivizing mission: to show employees the material benefits that come from your meeting targets, turning bigger profits, and growing steadily as a company.
With the help of these three tips, you’ll be able to get your whole team pulling in the same direction to meet the ambitious goals you set for your company in 2020 and beyond.