Hiring and training top talent is half the battle, and retaining that talent is the other half. Lisa Song Sutton writes for Fast Company with five unique incentives to keep talent engaged and loyal.
Inspire the Best Work
The first incentive is to offer an “idea bounty,” in which employees can come forward with fully fleshed ideas, including the processes that encompass them, to earn small bonuses. Staff can vote on whether to execute idea bounties, and healthy competition can build from it. Another incentive is to abolish standard work hours, instead giving employees expectations of what work they should accomplish in the day, and then letting them go home early if they complete their work sooner than quitting time. A third idea is to create fun ways to blow off steam on the job, with an example being given of one business hiring Beyoncé’s dance instructor to come teach moves in lieu of standard yoga. A fourth incentive is to encourage creative time-off, whether by offering (increasingly popular) unlimited vacation or by allowing paid time-off for community volunteering. Lastly, you can offer equity to employees, with the twist that it increases according to company valuation. You can read the original article here: http://www.fastcompany.com/3050833/know-it-all/five-employee-incentives-that-actually-work