Incentives so important for payroll people

5th February 2018

The recent IRIS FMP all staff event provided a classic example of how to effectively use incentives and celebration to create a motivated workforce.

I’ve written many times before about payroll people being the unsung heroes in most businesses, keeping employees happy through a relentless determination  to ensure pay arrives on time, every time.

I’ve also written about incentivisation of staff and celebrating success. This was very apparent at the IRIS FMP’s event last week. When the enlarged IRIS FMP group was created last year there was a determination to ensure that the company employed, incentivised and rewarded staff. Work hard, enjoy the job, and celebrate with the company. And we’ve delivered on our promises this year, with an incentive programme that will send the top 15 performers in the company to Washington in May.

So why should businesses have incentives?

  1. Productivity

It’s a cold hard economic fact.  Engaged staff are significantly more productive. Praise and reward drives employees to work harder to receive such employee recognition.

  1. Job satisfaction

Sending a message to employees that hard work is recognise demonstrates that the job they’re doing is valuable to the business making them feel that they are making a difference.

  1. Employee happiness

Employers that treat staff with respect and gratitude will create a happy working environment that people will want to be a part of.

  1. Retention

The provision of incentives and rewards gives employees a good reason to stay over and above basic hygiene factors.

  1. Loyalty

Loyal, engaged employees become your brand ambassadors, promoting your business far better than others who may not care about your business

  1. Team culture

IRIS FMP’s Incentive programme incorporates peer-to-peer recommendations and managers nominations and are great for team spirit. Allowing colleagues to nominate one another for rewards is empowering, as it demonstrates that they value each other’s opinion.

Our motivated employees work hard to delight our customers and that can’t be a bad thing. It also means our service levels are higher than most too, so businesses that choose us get the service they’re after.

Incentive programmes are often seen as a nice to have in most businesses. But I think they’re a critical component. And celebrating success at every opportunity should be the norm.