Incentive Prize Ideas

by Krista Sheehan ; Updated September 26, 2017
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Whether you are attempting to raise funds, increase sales, develop new ideas or eliminate workplace accidents, contests allow your company to not only connect with the employees, but also to foster friendly competition and teamwork. Awarding prizes for the contest winner encourages employee participation, but eather than simply giving coffee mugs with the company’s logo, consider a more interesting and enjoyable incentive prize idea.

Monetary Prizes

Whether it comes in the form of cash or gift certificates, monetary prizes are always a good incentive. When giving a monetary prize, the easiest option is to simply give cash. Determine the appropriate amount based on your company, the number of prizes given and the reason for the prize itself. For a more creative monetary incentive, use gift certificates or gift cards -- such as to local restaurants, shopping malls, movie theaters or gas stations. For a more original idea, give a gift certificate to a local spa, arcade, amusement park, museum or sports arena.

Work Perks

Entice employees with small perks at work. If the prize is only going to a few employees, give each winner a free paid day off. If this option is too extravagant for your company, make it a half-day. Whether you allow your employees to come in late or leave early, they certainly will appreciate the time off. Even an extended lunch break works as an incentive prize: If your company currently allows 30 minutes for lunch, give your employee an extra 30 to 60 minutes. Other work perks include a reserved parking spot for a week/month near the building’s entrance or a special pass that allows the winner to wear casual clothes to work one day.

Group Incentives

If the incentive prize will be awarded to a group of people, aim for one main prize to the entire group. For example, offer a pizza party during lunch hours to the winning group, or treat the entire group to dinner one day after work. Sticking with the free food theme, consider providing free snacks and beverages, within limits, to the group for an entire work week. To make the prize even more interesting, ask members of management to bake treats for the winners.

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