Many SMEs are not covering their bases, letting valuable employees slip, by not offering staff incentives.
A survey by incentives agency AD + INC found while 88 percent of small business owners see the benefits of recognising performance with staff incentives and reward programs, only 52 percent actually offer these options.
“When you consider the cost of the search, retraining and up skilling the new starter and the lost productivity in the meantime, losing a key staff member can hit the bottom line hard,” says Angela Dillon, AD + INC managing director.
The survey coincided with the launch of Motive8, an online rewards program for SMEs which helps businesses to set employee performance targets. Employees earn points which they can redeem for rewards, as they meet their goals.
