Different Kinds of Business Incentives

Different Kinds of Business Incentives
 
Not all business incentives are targeted at customers by business owners, although a lot of them are. There are other types of incentives that make a business run better and make revenues, profit and productivity soar higher. Some of these incentives that are used in business include employee bonuses, health incentives, customer loyalty incentives and referral incentives. All of these programs are used by companies worldwide to increase revenue, customer loyalty, brand awareness and customer base. These programs also give companies and those who are associated with them more chances to interact and build longer lasting and stronger relationships.



When you talk about business incentives that are targeted at getting employees to perform better, get the company’s productivity to soar higher or to get employees to want to keep working for you and to help you make your business stronger, you are talking about programs that involve giving employees bonuses. These bonuses can come in cash, in kind or in other forms that can either help them or those close to them. Some examples of bonuses that employees may want to try and boost performance for are cash incentives for an increase in sales, trips for them and their family for deals that they close and even performance boosting seminars and a shot at a promotion for outstanding performance in the office. All of these can help motivate an employee to do his best and to increase productivity and revenue for you.
Other business incentives that you can use to help create the kind of healthy and thriving working environment for your workers as well as for yourself is one that involves fitness. Deteriorating health is becoming a big problem among a lot of workers and companies these days and the sick hours that some employees put in may drag a company’s productivity down as well. Health incentives you can offer your employees to get them to try and stay fit include free gym memberships for all of your staff, or you could go one step further and create a staff gym for everyone to use when they have the time to do so within the office building. This makes trying to stay healthy easier and more convenient for them. This kind of a health drive can be stepped up a notch by giving the “biggest loser” in the company or the person with the greatest positive health change within six months a prize.
Customer loyalty incentives and referral incentives are given to customers who patronize the company continuously and to those who bring in more customers that help increase the number of people you service and earn from. These kinds of incentive programs can also increase revenue and increase your number of customers. You can even use this referral program on your employees too. Employees who are able to bring in more customers who avail of certain services, specifically customers who have not tried the company’s services before, get a reward in the form of either cash bonuses or prizes that everyone will want to have like new mobile phones or other cool gadgets.