How to Incentivize Your High Performers: Even When Raises Aren’t Always Possible

High-performing employees are an invaluable asset to any workplace. It's imperative to ensure they are consistently and properly incentivized and engaged in order to keep them motivated.

As you might find in any workplace performance research study, close to two-thirds of the employee population is clustered around the average mark. Only 2-5% of employees are considered high performers. Further to this, it is said that the top 5% produces a staggering 25% of the output.

It should come as no surprise to hear that high performers can also drastically affect your company's culture. Your high performers encourage productivity, engagement, and increased team motivation levels.

As a business, it's unlikely that you are able to provide raises to every high performer for every significant accomplishment throughout the year. There are, however, other incentives you can provide that encourage the continuation of their high-performance behaviors.

Here is a list of 5 creative ways to do just that:

• Offer Flexible Working Hours: High performers are often looking for ways to balance their work life and personal life more efficiently. Offering flexible working hours can be a great way to incentivize these employees by allowing them to work the hours that best suit their lifestyle.

• Provide Performance Bonuses: Performance bonuses can be a great way to reward employees for their hard work and dedication. This could be in the form of cash bonuses, gift cards, or even a company retreat.

• Offer Career Development Opportunities: Investing in your employees’ career development is a great way to show them how much you value their contributions. Offer them the opportunity to take part in workshops, seminars, and even mentorship programs to help them enhance their skills and progress in their career.

• Give Recognition: High performers take pride in their work and will be motivated when their efforts are recognized. Consider implementing an employee recognition program where you can reward employees for their work, such as through employee of the month awards.

• Provide Team Building Activities: Team building activities can be a great way to foster a positive work environment and help high performers to feel supported. From company picnics to team sports activities, these activities can be an enjoyable way to show your appreciation for their hard work.

By implementing these strategies, you’ll be able to effectively incentivize your high-performing employees and ensure they remain motivated and engaged in the workplace.

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