Are Your Employee Incentives on Par?

Posted in Human Resources

 

Does your organization do enough…

 

…to retain great workers?

 

…to motivate employees to give their best effort?

 

…to attract and keep high performers?

 

Take a look at what your competitors are doing.

 

Data from PrideStaff's 2015 Employee Retention Survey reveals the employee incentives today's managers are using to motivate workers and combat turnover.

 

Employee reviews and compensation are chief retention tools.

Results from our survey show that employers are taking a multi-faceted approach to retaining their best people. The majority of employers conduct employee reviews and offer yearly salary/pay increases. Many companies also provide a bonus structure.

 

In addition to these top tools, opportunities for growth, education, recognition and work/life balance are also commonly used to prevent turnover.

 

Q: What incentives do you offer current employees to help reduce unplanned turnover?

  • 2.4% - Child care program/reimbursement
  • 12.3% - Employee of the Week or Month Awards
  • 13.4% - On-site amenities like a fitness center, cafeteria, etc.
  • 16.0% - Anonymous employee satisfaction surveys
  • 18.4% - Productivity bonus structure
  • 20.1% - Formal employee recognition program
  • 20.6% - Additional paid time off
  • 21.4% - Career mentoring
  • 22.5% - Employee performance awards
  • 22.5% - Internal career advancement programs/promotions
  • 30.3% - Informal/random employee recognition program
  • 31.4% - Employee appreciation corporate outings
  • 32.3% - Continuing education opportunities
  • 42.0% - Employee bonus structure  
  • 53.7% - Yearly salary/pay increases 
  • 56.7% - Employee reviews  

Looking for more ways to tame turnover and improve performance?

Contact your local PrideStaff office today. As a leading national employment agency, we take a strategic approach to managing workforce issues like critical staffing gaps, chronic work and turnover. Our solutions support your team with a bench of ready talent – increasing productivity, retention and profitability.

 

Workforce Growth Solutions manage workload fluctuations strategically. When things get busy, we provide qualified temporary employees to support your core team, greatly reducing employee burnout and resultant turnover.

 

On Target fulfillment process eliminates chance and inconsistency, helping to create a lasting match between employer and employee.

 

 

Tags: National Staffing Agency, 2015 Employee Incentive Survey, Employee Turnover, Employee Incentives, Employee Retention, Hr Issues, employment staffing agencies