New Types of Employee Incentive Programs

New Types of Employee Incentive Programs

Do you have an employee incentive program at your company? There are many great reasons to offer workplace perks like wellness benefits for both employers and team members, including reduced medical costs, improved retention and increased productivity. However, traditional programs that offer external rewards may not be the ideal motivator for all employees. What strategies for employee engagement can a new type of program provide?

1. The Challenge of Engaging Employees

Do you feel that your corporate wellness program’s engagement rate could be higher? You’re not alone! Monetary rewards or other workplace perks like additional paid time off use extrinsic motivation to encourage employees to participate and achieve their goals. Although the goal is to ultimately improve employee health and quality of life, for some team members these types of rewards may not provide enough motivation to go the extra mile. You also may find that there are diminishing returns over time.

2. Employee Incentive Programs and Intrinsic Motivation

The key is to find workplace perks that inspire employees to do more. As you work to create strategies for employee engagement, think about intrinsic motivation and how to find ways to encourage and reward employees that call on their purpose, compassion, humanity and empathy instead. Implementing an employee incentive program that taps into intrinsic motivation – an internal drive fueled by your own enthusiasm—can reinvigorate your team.

3. Why Use a New Incentive Program?

At Givhero, we’ve found strategies for employee engagement that focus on intrinsic motivators, like social causes! Instead of offering prizes (monetary rewards) for completing a wellness goal, employees have the opportunity to invest in their own wellness by customizing goals that make sense with their unique wellness journey and not just use a step counter! When employees reach their goals in a wellness challenge, they unlock donations for their favorite charities. This not only rewards their efforts towards personal wellness; it also inspires them to keep going to benefit their communities as well.

4. Givhero Provides Intrinsic Motivation for Employee Wellness

If you’re looking to increase employee wellness at the workplace or want to offer a unique health and wellness program to your corporate clients, we’re here to help! We use intrinsic motivation to inspire teams to reach their personal and community wellness goals. Learn more about how Givhero works. You can call us at (202) 257-1587 or schedule a meeting.