The document discusses low-cost workplace incentives that can improve employee motivation and performance. It recommends treating employees fairly to avoid resentment, which hinders incentives. Specific low-cost incentives mentioned include profit-sharing, public recognition of employees, and competency training. The document argues these types of incentives can boost both customer experience and profits by engaging employees without significant additional costs.

1. Workplace incentives that cost little
but pay off big
"Everyone talks about building a relationship with
your customer. I think you build one with your
employees first."
- Angela Ahrendts

2. Q: What's your most valuable asset?
A: Your employees.

3. Why can't I motivate my
employees?

4. • If you overwork your employees, they
won't have more to give when you try
integrating incentives.
• If you underpay your employees,
incentivization will be a miserable
failure.

5. • Deep-seated resentment is
an incentive-killer.
• For an incentive program to work,
your staff must feel fairly treated.

6. Incentivizing Staff without
Breaking the Bank

7. Use the Same Incentive

8. • Put more money in the team's pockets
and generate more profit for the
company with the same incentive.
• The incentive? Increase revenue
without adding to the investment or
fixed cost tab.

9. For example:
• Innovate ways of getting existing
customers to buy more.
• Use customer testimonials to open
new doors.
• Consider using AI technologies for
cold-calling that don’t detract from
reps’ regular calling schedules.

10. • Another approach? Look for
reductions in inventory, receivables,
and expenses without impacting
revenue projections.

11. • For example:
• Cut extravagant spending that
happens when treating potential
customers.
• Learn innovative ways to get your
customers to pay faster.
• Investigate your inventory.

12. CX & EX are not mutually
exclusive

13. • An involved team with happy
employees creates a better CX and
yields a greater ROI.

14. Get your team involved by:
• Uplifting the public stature of team
members
• Profit-sharing
• Creating a compelling environment
and EX
• Lifing individuals' levels of
competence

15. Final Thoughts

16. EX connects to CX through inexpensive but well-thought-
out HR incentives.
So, spend a little time, give it some brainpower, engage the
team in a collaborative effort, and don’t spend much money.
If it all works out, the money you do pay out will come from
extra profits you weren’t counting on anyway.

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