DSG International has boosted employee motivation with a cost-effective reward system for team performance.
In the session How to boost employee motivation without breaking the bank, June Diamond, recognition and incentives specialist from DSG International, explained how the company behind Currys.digital and PC World established team bank accounts for its 27,000 UK staff. These allow line managers to reward team performance by depositing funds into team accounts.
Employees can decide how to spend funds. Past rewards have included wine, charity donations and the launch of a trust fund for the children of a deceased colleague. "We changed our incentive schemes to reward collective team performance instead of just individual performance. According to our staff survey, motivation and satisfaction have improved," said Diamond.
Clive Wright, European partner at Mercer Human Resource Consulting, said more employers should look into low-cost reward schemes for staff.
"It’s about finding people who are doing good things and letting them know they are appreciated. Some of the best motivators include just saying ‘thank you’, ‘well done on an excellent job’. You can support this with little rewards. It’s the least you can do, so why don’t more companies do it?" he said.
Wright urged employers to experiment with various schemes and build recognition into their culture.
"Make the award as soon as possible, and make it tangible. See what works well. Be prepared to change, revisit or replace it," he added.