Great teams are not created with incentives, procedures, and perks. They are created by hiring talented people who are adults and want nothing more than to tackle a challenge, and then communicating clearly and continuously, about what the challenge is.
Having great managers is something people enjoy working with.
Providing (or reimbursing for) the training that will help your employees grow into future roles.
Increasing salaries to help you compete for the best possible talent that others will be excited to work with is a good idea.