Employee Rewards: It’s All About Motivation
If your employees are getting the job done and they don’t complain too much, why change anything, right? Wrong. Whether you are in charge of thousands of employees, or just a few, it is still important that you reward them in the right way. Maybe you have never thought about it before, but you might be surprised how much good it can do to show your employees your appreciation with something concrete.
The first and most obvious reason for employee rewards is the motivation that it provides. Good employees will try their best anyway, but even the best employees are spurred on by a little extra incentive. It might surprise you to find out that most people do not work at their full capacity, and most people often do the bare minimum. So if you want everyone to work a bit harder, create a rewards scheme and let them know what will happen if they do good work. Sometimes there does not have to be something going wrong in order for you to want to kick your business up a notch.
A good rewards program can be one of the most effective ways to create a good sense of community in the workplace. Friendly competition is a great way to help employees to bond and get to know each other, creating unity. And a happy, unified work environment will always produce results. The best benefit though, is the good feelings that rewards will create towards your company. The knock on effect of this is employee retention. If employees love the company that they work for, they are much more likely to pursue their career goals with you, rather than looking for employment elsewhere.
Big Rewards and Small Rewards
Not every reward has to become a big show. Something as simple as treating your employees to lunch every so often, or an employee party or retreat, can be enough of a reward. And it is the kind of real reward that people notice as it is more of an immediate, regular occurrence. However, the most effective rewards programs combine smaller, regular rewards, with bigger, more extravagant rewards at greater intervals. All designed to show your employees that you appreciate them.
Better motivation, better sense of community, employee retention, all of these things add up to one result: better productivity. And when all is said and done, your primary goal as an employer is to increase productivity whenever and wherever you can. If you can successfully create a company family, that cares about each other as well as the company as a whole, you will see a marked increase in results. And that is something that you can measure.
Jacob, thanks for the great post and reminder. I’ve found that time also counts. If I spend time with people appreciating what they do, that counts as well. It’s not just about sending them something as it is recognizing their achievement with some time. Not all the time, but some times. Balance and variety help too. At least they do for me.
Thanks again, Mike…
How does your approach hold up against Daniel Pink’s stated in his book Drive? He seems to think you shouldn’t pay people for their discretionary effort.
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