Performance Incentives

What is an Employee Incentives Scheme?

Performance incentive schemes for employees are essentially rewards and benefits programmes whereby individuals, or indeed the wider team and organisation, receive perks for performance-related achievements.

Designed to motivate, inspire, boost morale and drive productivity, incentives can be awarded for a whole number of ‘wins’ – from hitting sales targets, to bringing in new clients, or simply for outstanding achievement.

Staff incentives can come in many different forms, such as commission, an extra holiday day or even a relevant and thoughtful gift, such as one of Buyagift for Business incredible selection of over 5,000 experiences!

Our Performance Incentive Programme

Research has shown that non-monetary perks are proven to be more effective than financial rewards, with 65% of employees ^[1] reporting they would rather receive experiential rewards over financial gifts. So, why not swap the ordinary for the extraordinary and shake up your staff incentive scheme with Buyagift for Business?

We are passionate about providing each and every one of our customers with unique and unforgettable experience gifts to suit every budget, interest and occasion. That’s why we are able to work in close collaboration with our business partners to craft and implement a winning performance incentive scheme that boosts employee satisfaction and enjoyment, making them feel valued, motivated and hungry for more.

You’ll receive a dedicated Buyagift for Business account manager who will help you to explore branding options and reward your team with a choice of thousands of memorable experiences, from rejuvenating spa days to action-packed racing day adventures, indulgent dining gifts and more!

Why are Incentive Schemes Important?

Incentive programmes are essential if you’re looking to keep morale high and drive engagement. As a result, your employees will be more motivated to work hard and deliver the best possible results to help your company smash and exceed its performance targets.

Here are just a few statistics to support how much of a sizeable impact a great incentive programme can have on your business:

39% of employees feel underappreciated at work, with 77% reporting they would work harder if they were more recognised ^[2]

The presence of a corporate incentive programme motivated 66% of employees ^[3] to stay in their job.

Companies using incentive programmes reported a 79% success rate ^[4] in achieving their established goals when the correct reward was offered.

Properly structured incentive programmes can increase employee performance by 44% ^[5]

More than 90% of employees ^[6] say they’re more likely to stay with an empathetic employer.

Just like any investment, you won’t get the best out of your team if you don’t give them the dedication, attention and care they deserve. Incentives are a great way to show your workforce that you understand the success of the business is built upon their hard work and you’re willing to reward and congratulate them when they achieve great things.

What are the Benefits of Performance Incentive Schemes?

									There’s no doubt that investing in your people pays dividends, but how exactly do staff incentive efforts translate into tangible business benefits? We’ll tell you.								

Boosted Productivity

Companies with strong incentive programmes see a 52% boost to productivity, while those that link incentives to company ethos and values see a huge 75% increase. ^[7]

Increased Retention

Build a culture to be proud of and boost company morale with exciting staff gifts and perks to show your employees just how much you value and appreciate their hard work. ^[8]

Elevated Morale

Employee recognition and incentive programmes positively affect organisational culture according to 83% of HR leaders. ^[9]

Bolstered Revenue

Annual revenue increases are three times higher ^[10] in companies that use tangible sales incentives over those that don’t use an incentive scheme.

Make Recognition an Experience

How to Run a Successful Employee Incentive Programme

Creating a successful employee incentive scheme may seem like a tricky proposition, but the answer lies in keeping both your people and your brand goals front and centre of your mind. Here are a selection of our top tips for implementing impactful and memorable incentives in the workplace.

To craft incentives that work for both your staff and your business, make sure the targets and behaviours emphasising are in line with your goals as a brand. We’d recommend starting with your list of goals and KPIs and curating your incentive programme to suit.

Align Business Goals with Employee Goals

When setting incentive targets, one size certainly does not fit all. Set specific goals for different individuals and teams that are relevant, achievable and most importantly, inclusive. Otherwise, you’ll find they’ll be disengaged and unmotivated if their targets are unrealistic.

Set Unique, Relevant and Achievable Targets

To encourage participation and keep engagement high, keep goals as simple, tangible and memorable as possible. Stick to measurable metrics such as attainable percentage increases and always make sure timeframes and deadlines are crystal clear.

Keep Things Simple

None of us would work our socks off for something we don’t want. Incentives need to be meaningful to inspire motivation. Take the time to ask your staff for feedback and learn what interests them so you can nail your incentive perks and make them feel valued in the process.

Make Incentives Personal

Just like any other business effort, you need to measure the success of your incentive programme to be sure it’s working. Choose relevant metrics that complement your business goals and, again, engage with your team and ask for feedback to see what they think.

Measure Success

Your employees' wins are your wins too, so celebrate them. Share achievements on social media, big them up in team meetings and include successes in wider company updates. The more buzz, the better – and the more likely others will want to get involved with your winning scheme!

Shout About Employee Success

Why Us?

Award Winning Service
We value our clients and customers, striving to deliver happiness and amaze people.

No Management Fees
No extra costs and no hidden fees, so you can easily manage your budget.

Fully Flexible Vouchers
No unhappy recipients, as no matter what the gift, they can redeem it for the experience of their choice.

Ease and Efficiency
Fast turnaround times, online redemption options, brand-able solutions and fully flexible vouchers.

Branding Options Available
No extra costs and no hidden fees, so you can easily manage your budget.

Free P&P
Your whole budget can go towards rewarding the recipient.

Personal Account Manager
Whatever you need, we’re here. You’ll have a committed account manager to look after your business requirements.