Creative Reward Ideas for Companies

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Creative reward ideas for companies can include a new job promotion, the use of a company car for a week, an outing with coworkers or a monetary compensation. Use creative ways to motivate and reward employees with helpful advice from a management professor in this free video on business.

Part of the Video Series: Business Marketing & Design
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Video Transcript

Hi my name is Mark I am going to look at creative reward ideas for companies. Innovation is a very very powerful thing and a lot of companies today are a little bit aware that, competitive elements in business are getting harder and harder now. So companies really should focus on any ideas that come from their employees. Why? Well employees there are on the front line of a business they see what happens on a daily basis, and are probably coming up with solutions in their head anyway. So it is a good idea for companies to actually award or encourage ideas from within the organization. Because obviously when people are coming up with their own ideas it is harder to come by. This happened naturally organically the employees working in the organization sees a situation sees a problem comes up with an idea. These ideas should be nurtured and collected obviously they have to be assessed on their merits, but never the less companies should actually encourage and initiate these thoughts, on a regular basis. Now in terms of reward well what does that mean? Does it mean monetary? Not necessarily it might mean that the employee feels even more involved within the organization if they are actually openly credited with the idea. Rewards can mean all sorts of different things. It can mean maybe a new job new job promotion, maybe it might be the use of a car for a weekend, maybe the group of successful, participants in the competition get a holiday or an outing or a trip or some form of incentive. But it could be monetary as well obviously it depends on the companies policies. But really the the ideas for initiative cannot be understated certainly in todays competitive marketplace.

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