Everyone knows compensation packages matter. Companies know they have to pay employees enough to allow them to live comfortably and stay motivated at work. But, companies now are thinking beyond traditional salaries to motivate employees.
By developing steady ways to keep money flowing in the office, companies can show employees they have opportunities to earn money on top of their salaries. This incentive can give employees an extra boost when having a rough day.
These companies found innovative ways to compensate employees above and beyond their salaries. From random bonuses to stock options, employees at these companies can stay on their toes and look at their computers with green in their eyes.
Random Bonuses
Elite Transit Solutions, a shipping and logistics management service, awards bonuses to employees randomly. The company says this practice helps keep employees motivated. Knowing that a bonus can be awarded at any time subtly encourages employees to perform at their best level all the time.
Shared Ownership
Some Texas Roadhouse staff can say “Yee haw” to celebrate more than just having a smooth shift! They might also shout with enthusiasm after receiving some extra cash bonuses. Texas Roadhouse managers and support center employees are eligible for profit sharing, which gives them a designated percentage of annual profits. There’s no cap on the percentage the bonuses pay. So, employees get to share in the success of the company, giving them an incentive to want to make it even more successful.
Long-Term Incentive Bonus
All full time employees at Concho Resources, a oil and gas exploration and production company are eligible for yearly grants of shares of the company’s stock.
Bonuses Year Round
Employees at O.C. Tanner Company enjoy a consistent cycle of bonuses through the year. Not all of the bonuses are performance-related either! Employees receive benefits from profit sharing twice per year. They also receive holiday bonuses, including $300 in cash for Christmas, $100 for Thanksgiving. Employee birthdays are holiday’s too! On their special day, employers receive $100 cash.
Compensation can be tricky. But, having opportunities for employees to earn extra money on top of their annual salaries helps satisfy and challenge money-motivated employees. Compensation benefits don’t look over people who aren’t motivated by more money either. At the end of the day, who doesn’t love to pocket some extra cash, right?
At Beni.fit, we believe benefits packages can tell your company’s story: the story of your values, the story of your culture and the story of your future. No two companies are exactly alike, but you too can find and incorporate incredible compensation benefits into your business. That’s what we’re here for. We come alongside companies of all sizes, partnering with them to create the best, most comprehensive, most creative benefits package for their employees.
If you’re struggling to retain good talent or feeling like you can’t compete with large companies with seemingly endless resources, we’ve got good news for you. We can help. Contact us today to speak with a benefits consultant about how you can be on the track to attracting and retaining happy, loyal employees.