Incentives are one of the best ways for employers to motivate their employees. No matter what industry they work in, employees enjoy getting some kind of recognition. This shows them they are valued and appreciated.
Not every company can afford big pay rises, especially in today's competitive environment. Some employers are candid and open when they tell their employees that there is little or no opportunity for advancement within the company and their employees start to feel as if they are in a dead end job. Nevertheless, companies need employees even if there is little room for advancement, so that's where incentives and the opportunity to receive them can make all the differenece.
There are always the Employee of the Month awards or office incentives that employers use to give their employees a boost, but they are often not valuable to a company. Singling our a particular employee as being the 'best' that month can bring about jealousy and animosity that creates a bad work situation.
There are a few other ways to encourage employees to work hard. Managers who have established their place within a company will often notice personal preferences among the employees, using these preferences to reward the employee in a more personal way. Coveted parking spots at the front of the building can be reserved for the employee of the month. An office with a window is a nice incentive to meet a deadline or target.
Keeping employees happy and satisfied with their jobs should be a main priority for business owners. From the entry level jobs to the second in command, people who are happy with the work they are doing, feel valued and are recognised for their hard work, will do a better job. They will want to come to work, want to accomplish established goals and want to gain the respect of their Line Managers.