It is easy to give people incentives, but are those incentives creating the impact you want? This presentation shares how you can make incentives meaningful and in turn retain employees.

2. Joshua Reeves
,Ȓ ,2+!/+!Ǿ+6/,))
Ben Peterson
,2+!/+!Ǿ*,,

3. Why do we really need
to give incentives?
in•cen•tive
in-ˈsen-tiv
noun
a thing that motivates or encourages one to do something.
“employees have an incentive to increase their sales”
synonyms: inducement, motivation, motive, reason, stimulus,
stimulant, spur, impetus, encouragement, impulse

4. 5 Tips to Make Incentives Meaningful and Retain Employees
Reward and Recognition
4/!ʲ51/+0 ,$+1,+ʲ

5. +1/+0
bamboohr.com zenpayroll.com

6. 5 Tips to Make Incentives Meaningful and Retain Employees
Incentives of the past,
present and future
,+60,+)61%ǘ/!*,01*-,/1+11%+$1,*-),60+!
)001%+ǖ-/ +1,#*-),60 /,21#/#,,!ǽ!3+ *+1+!
4,/(ȡ)#)+ /4%16,2/*-),60/))6 /,21ǽ
bamboohr.com zenpayroll.com

7. 5 Tips to Make Incentives Meaningful and Retain Employees
Why do incentives matter?
Ȋ/201*++!1%64))1/21,6,2Ȁ1/11%*$/1)6Ǿ+!
1%64))0%,41%*0)30$/1ǽȋ
—Ralph Waldo Emerson
bamboohr.com zenpayroll.com

8. 5 Tips to Make Incentives Meaningful and Retain Employees
Incentives help companies recruit
new talent and retain current talent.
bamboohr.com zenpayroll.com

9. 5 Tips to Make Incentives Meaningful and Retain Employees
If you don’t incentivize,
your competition will nab your talent.
ǝǛ-/ +1,# ,*-+0%3/4/!+!ȡ,/
/ ,$+1,+-/,$/*+-) ǽ
bamboohr.com zenpayroll.com

10. 5 Tips to Make Incentives Meaningful and Retain Employees
Good incentives will get your
desired outcome.
Ȋ

11. + +130 +#, 20,+0+$)%3,/+! +12/+!2-+!!,4+
.2 ()6!-+!+$,+1%## 16,2+!ǽȋ
—Paul Hebert, Fistful of Talent
bamboohr.com zenpayroll.com

12. Tip 1: Make it
personal
For employees, the recognition is as important as the reward. When you
tailor your incentives to match the employees and their contribution, you’ll
get an additional boost for the recognition.

13. 5 Tips to Make Incentives Meaningful and Retain Employees
Recognize Good Work
Ȋ /,*%3+$)11) /!1%1060ǾȆ

14. 2$%16,2!,+$0,*1%+$4))Ȇ1,
'201$,+$,3/+!0%(+$0,*,+Ȇ0%+!+#/,+1,#3/6,!6Ǿ1%//
1,+0,#4606,2 +/ ,$+76,2/*-),60ǽ%(601,!,1-2) )6+
#/,+1,#,1%/*-),60ǽȋ
—Paul Facella,
Everything I Know about Business I Learned at McDonald’s
bamboohr.com zenpayroll.com

15. 5 Tips to Make Incentives Meaningful and Retain Employees
How You Can Make it Personal
3 ,*-+6Ȓ4!Ȋ(2!,0ȋ
bamboohr.com zenpayroll.com

16. 5 Tips to Make Incentives Meaningful and Retain Employees
How You Can Make it Personal
● Give personalized gifts
● Match charitable contributions
● Offer continuing education
bamboohr.com zenpayroll.com

17. 5 Tips to Make Incentives Meaningful and Retain Employees
Care is Motivational
Ȋ ,/12+1)6Ǿ+1$%1 ,+,*6Ǿ4%1*,1310*-),60*,01/#/
1%+$0Ǿ02 %0+$-/0!+!/ 3+$ /+! ,*-00,+ǽȋ
—Larina Kase, Ph.D., The Confident Leader
bamboohr.com zenpayroll.com

18. Tip 2: It’s not all about
the money.
Ȋ,-)1%+(*,/#/.2+1)6,21+,+ 0%1+$)+ +130ț*/ %+!0+!1/3)Ȝ1%+
0%+ +130+!1%101%#/.2+ 6,#1%,2$%1+ /00Ǿ-/#,/*+ + /00Ǿȋ
—Professors Scott A. Jeffrey
and Gordon K. Adomdza, Human Performance.

19. 5 Tips to Make Incentives Meaningful and Retain Employees
Offer flexible hours and
work/life balance.
Ȋ0),+$01%*-),60!0/3+$+!!,0+ȉ1201%-/3)$Ǿ1%0 +
$,),+$461,2)!+$1/201+$+!*12//)1,+0%-041%(64,/(/0ǽȋ
—Richard Martin, Alcera Consulting Inc.
bamboohr.com zenpayroll.com

20. 5 Tips to Make Incentives Meaningful and Retain Employees
Thank your employees personally.
Ȋ%14,*,012+!/20!4,/!0+ ,/-,/1*/ 1%1$11%%$%01

21. +!/1%0*-)4,/!0Ȇ1%+(6,2ǾȆȋ
—Michael Guld, Guld Resource Group
bamboohr.com zenpayroll.com

22. 5 Tips to Make Incentives Meaningful and Retain Employees
Make work a great place to be.
ǞǕ-/ +1,#*-),60#+!#2+4,/(+3/,+*+13/6,/
51/*)6*,131+$ǽ
bamboohr.com zenpayroll.com

23. 5 Tips to Make Incentives Meaningful and Retain Employees
Give your employees growth
opportunities and chances to advance.
ǘǕ-/ +1,#*-),60!0/$/,41%,--,/12+16+1% ,*-+6
016-,#/ ,$+1,+ǽ
bamboohr.com zenpayroll.com

24. Tip 3: Institutionalize
your Incentives
While it’s great to reward your employees uniquely and personally, it’s also
important not to create too many one-off perks. Haphazard rewards are
inefficient and can create confusion for your employees.

25. 5 Tips to Make Incentives Meaningful and Retain Employees
How to Create a Perks Program
,+01121,+)76,2/+ +130Ǿ#,)),41%01%/01-0ǿ
1. Make it transparent
2. Make it flexible
3. Make it fair
bamboohr.com zenpayroll.com

26. 5 Tips to Make Incentives Meaningful and Retain Employees
Perks You Can Institutionalize
● Flexible Vacation Days
● Flexible Bonus Spending
● Bring the Perk In-House
bamboohr.com zenpayroll.com

27. Tip 4: Measure the
success (or need for improvement) of your
incentive program
Ȋ

28. +0+16ǿ!,+$1%0*1%+$,3/+!,3/$++!5- 1+$!##/+1/02)10ǽȋ
—Albert Einstein

29. 5 Tips to Make Incentives Meaningful and Retain Employees
Did you think about the details?
Ȋ

30. 1ȉ01%)11)!1)01%1/31)ǽ11)1%+$0*($1%+$0%--+ǽȋ
—John Wooden
bamboohr.com zenpayroll.com

31. 5 Tips to Make Incentives Meaningful and Retain Employees
Some things can’t be measured.
Ȋ

32. + +130%)-+$$*-),60Ǿ+!+$$!*-),60+%+ 6,2/,11,*
)+ǽ,60Ǿ+ +130/++!/ 1/,211,,11,*Ȓ)+/02)10ǽ+!+,Ǿ6,2
0%,2)!+Ȇ1)11%+!/ 1Ȓ+00,#1%/)+(1,1%,11,*)+!0 ,2/$6,2ǽȋ
—Intelispend
bamboohr.com zenpayroll.com

33. Tip 5: Don’t Forget
Your Culture
Your incentive structure is a reflection of your company culture. How you
manage and deliver perks is one way to make your company stand out.

34. 5 Tips to Make Incentives Meaningful and Retain Employees
Inject Culture into Your Incentives
ZenPayroll: At ZenPayroll, we have a special monthly award given to an exemplary
employee, voted on by her peers. The winner gets a $1K bonus, $500 of which is to be
spent on the office at her discretion.
bamboohr.com zenpayroll.com

35. 5 Tips to Make Incentives Meaningful and Retain Employees
bamboohr.com zenpayroll.com

36. 5 Tips to Make Incentives Meaningful and Retain Employees
Why it Matters
Culture is the differentiator between you and your competitor, which can be
impactful to hiring and retention in this improving job climate.
bamboohr.com zenpayroll.com

37. What can you do today to
make incentives work for
your company?

38. 5 Tips to Make Incentives Meaningful and Retain Employees
Thank you!
bamboohr.com zenpayroll.com

39. 5 Tips to Make Incentives Meaningful and Retain Employees
bamboohr.com zenpayroll.com

40. 5 Tips to Make Incentives Meaningful and Retain Employees
Receive a free job posting on
BambooHR’s ATS and full
HRIS for one week.
BambooHR
1-866-387-9595 | bamboohr.com
sales@bamboohr.com
bamboohr.com zenpayroll.com

41. 5 Tips to Make Incentives Meaningful and Retain Employees
Free 2-month trial
See for yourself why thousands of small businesses love
ZenPayroll – the world’s most delightful payroll solution.
Free 2-month trial
ZenPayroll
800-936-0383 | zenpayroll.com
See hello@for zenpayroll.yourself com
why thousands of small businesses love ZenPayroll –
the world’s most delightful payroll solution.
bamboohr.com zenpayroll.com