The results of a recent talent shortage survey show that around 34% of local employers are having difficulty in filling jobs in their companies. In fact, employers across the globe are experiencing talent shortages and are needing to look within their organisations for solutions. To avoid a talent drain by losing your best employees, companies need to tailor incentive programmes to improve loyalty and decrease turnover. After all, recognition is one of the most effective ways to reinforce a company or organisation’s culture, support its objectives and retain top performers. Knowing that a company recognises and appreciates an employee is a validation of the work they do.

What sort of incentive programme is suitable is often left to the discretion of management but the best companies think like target marketers. They treat the employees like customers and devise recognition plans that will keep them loyal to the brand. High-performing companies customise incentive schemes more often than low-performing ones. Companies need to create a bond with their workers and give them more of a purpose if they want to boost retention rates as well as sales figures.

The question is whether to use cash or tangible awards as an incentive. Both may play a role in motivating employees. At Creative Incentives, we create incentive, recognition and reward programmes that inspire and motivate people, stimulate performance and deliver better business results.

In these difficult financial times, it is sometimes better to reward employees with monetary amounts that can be spent on necessities or the little luxuries they would not ordinarily buy themselves. Prepaid debit cards are an easy, safe and quick way to pay staff their incentive reward and are accepted throughout South Africa. They can even be branded with your company logo, corporate colours and bylines. Travel is still one of the best means of incentivising and recognising employees for their performance and can range from elaborate international trips to smaller outings at a regional resort. The emphasis is on achieving serious business goals and each option inspires and stimulates action.

The question is not whether to incentivise your staff or not, but how best to use the programmes to gain the best from your employees, and boost the company’s productivity and sales figures at the same time. Contact Creative Incentives to assist you in tailoring a recognition and reward programme to meet your specific goals and needs