Every organization offers incentives to its employees. It is a part of the deal. However, the value of incentive has become less important with passage of time, partly because it is taken for granted (by employees) and partly because managers/leaders have not really been able to offer it to their employees in the right manner.
Incentive is not only the monetary benefit one gets when they perform well; however, this is how it is perceived by numerous managers and leaders.
Begin by doing this.
List down the various incentives you have with you to offer to your team members for their daily time, effort and energy they put in to take you closer to your collective goals.
They should have quite a lot of it.
Ask when do they give out one of the incentives from their kitty to a particular team member and how does it help them. Give them some time to write it down.
After they are done ask them to explain this to the other managers and let the discussion continue for some time till others are fairly satisfied.
This will be a good brain storming session for the team and not only will they feel satisfied but they will remember the discussion as they have found their answers themselves.
After this is done leave them with a chart to prepare for their own teams with following details to be filled:
Name of the Person