What business incentives can help you retain staff?

Posted by Dan Kelly

Retaining your staff is crucial in any sales-driven business. It can ensure you keep recruitment costs low, while also allowing you to create salespeople that can become experts in your business and what you offer.

A key way to retain staff is to keep them engaged. By doing this, you can drive a better performance from them and foster a sense of loyalty towards your business. There are different business incentives you can use to achieve this. Here are some you can use to create engagement and ensure staff retention.

Team events

An engaged team of employees that work well together, can create a positive environment in your business, which can help maintain momentum and keep morale high. As a result, this can help retain staff. Good team-building events can help achieve this. When staff work together outside the office it can help build working relationships, create friendships, and make staff feel they are a key part of a strong team – a team they want to remain in for the long term.

Effective team events to consider include away days, where staff work together to complete different challenges, games and puzzles. Or they could involve team sports activities, like sailing or white water rafting.

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Sales incentive schemes

Putting together a sales incentive program, where staff can win rewards for hitting sales targets, can motivate them to work harder. Such incentives can make them feel valued, knowing that your business appreciates their good results and doesn’t take them for granted. This approach can encourage salespeople to want to stay in your business for longer – knowing they are getting more back from their hard work working with you, than they would if they worked for a competitor.

An effective sales incentive scheme could be implemented during an intense sales campaign, such as following the launch of a new product, or run over several months to meet your business sales targets. They can also be seasonal, such as in the run up to Christmas, with multiple targets to hit, including speed or volume of individual sales.

Incentive travel

As a further roll out of an incentive scheme, you might want to consider creating a leader board, which tracks the best performers over time and culminates in an all-expenses-paid trip, which your staff can experience together. Your best performing staff would be offered a place on an unforgettable trip to a top international destination.

The experience can make staff feel they are valuable to your business. They are likely to feel more engaged when back in the office, reinvigorated and focused, wanting to maintain their good performance and develop in their role. The unique activities they experience can also create positive memories for your staff, which they will associate with your business for years to come.

An engaged team of employees that work well together, can create a positive environment in your business, which can help maintain momentum and keep morale high

See how we deliver our Sales Incentive schemes

Winter incentive trips, such as taking staff to a luxury European ski resort, are a popular choice. As are once-in-a-lifetime experiences such as on safari in Africa or exploring the cultural diversity and beautiful scenery of India.

You could also consider putting on a themed SPIF – a sales performance incentive fund – day, in the run up to your incentive travel trip. Theming the office to reflect your chosen destination, along with holding games and competitions during the day, could play a fantastic part in building up anticipation and engagement on a sales floor before your trip.

Effective sales incentive programs to help you retain your staff

Providing an effective incentive in your business, like a sales incentive scheme, can keep your staff engaged and create an environment that staff enjoy working in, encouraging them to stay.

At CR Worldwide, we can quickly design, launch and optimise powerful sales incentives programs for your business. Our platforms are: 

Easy to implement — They can be tailored to suit your business needs and goals, meaning you can be ready to implement an incentive scheme quickly.

Easy to use — They are designed so that they’re easy to understand and use. This allows staff to easily work towards their reward targets, track their sales, and compete with their colleagues.

Easy to manage — They offer real-time reporting in participation with ROI and budget management. This means you can effectively manage, organise and track your staff’s performances, set rewards according to your budget, and get the most value out of your incentive scheme.

We’d love to help engage, motivate and inspire your staff with our sales incentive schemes. To speak to a member of our award-winning team:

As a founding partner of CR Worldwide in 2002, Dan helped develop the company from a start-up business into the multi-million global brand it is today.