The Why Behind Workplace Incentives

The Why Behind Workplace Incentives

What makes a successful business?

 

This is a very complex question that can be answered in many different ways.

 

One may answer, “high profits.” Another may answer, “a powerful leader.” Although these answers are not wrong, there is one attribute to every business that is proven to increase the success rate of a company: happy employees.

 

According to a study led by Professor Andrew Oswald at Warwick Business School, workers who identified themselves as being happy in their job were 12 percent more productive than workers who identified themselves as unhappy in their workplace. If employees felt as though their work was being valued and celebrated they were more likely to be happy in their position, therefore more productive.

 

But how do companies make their employees feel valued and important. Many companies harbor a “work hard, play hard” mentality. This is often implemented through incentive programs. An incentive program is a plan created and promoted by a business in order to encourage its employees to meet particular goals or influence behavior. Incentive programs alone do not foster a positive and productive work environment, there are many other factors that go into creating a company of happy employees. The Zellman Group is a prime example of a successful company that understands what goes into creating happy employees. Zellman’s success can be attributed to a strong management teams that keeps all employees accountable for their work, open lines of communication between employees and management, an incentive program that frequently awards employees hard work, and the innovative criteria in which employees qualify for recognition.

 

There are a variety of incentive programs that focus on different aspects of performance. One company may focus solely on numbers and revenue, while another may focus primarily on teamwork and company values. At Zellman we have implemented a program that is a healthy mixture of the two, emphasizing our desire for success, while truly living our five company values: accountability, passion, innovation, group leadership, and commitment. Our program includes a monthly value rally, where employees nominate each other for gift cards based on living the values of our company while having lunch catered in. Besides these monthly events we also award prizes and monetary incentives to employees who meet their monthly goals.

 

Incentive programs have the ability to make very real and positive changes to a company. Employees that feel like they are being valued are more likely to be happy, and therefore more productive. The extra effort put forth by happy and loyal employees can potentially help an organization reach its goals, gain and maintain new clients, and foster an environment that is productive and enjoyable for all. The Zellman Group is a great example of how making a job feel less like a job and more like a home, can make all the difference.

 

 Learn more about a career at The Zellman Group here