David Pearson, director of promotions and incentives firm Filmology, offers his advice.
"You’re right in thinking that incentives should always have the ‘wow’ factor. After all, why bother working towards a reward if it isn’t really worth it? While incentives must be aspirational, however, they needn’t be over costly. And there are some important tips to remember when it comes to delivery.
"First, reward teams rather than just top-performing individuals. This will bring employees together to work towards a joint goal. It shouldn’t just be the person that fronts the sale or project who is rewarded, but also the back-up team that makes it happen.
"I’ve noticed that more and more firms are chosing to motivate staff using ‘blanket rewarding’ – offering a high number of staff low-value rewards on a regular basis, rather than a low amount of high-value rewards to just the lucky few. This is reflected by a notable jump in bulk orders for cinema tickets from HR departments, for example. Here, an entire department receives a reward from their employer when group targets are met or they have all performed well. Cinema vouchers work well – they’re flexible enough to cater for every taste and still offer a treat, despite coming at a relatively low cost to you, the boss.
"Blanket rewarding like this is a great way of keeping all staff motivated during difficult economic conditions. Every member of staff feels appreciated and their efforts are recognised, which is a real morale-boost."
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