A rewarding employee is a happy one. If you want to keep your team motivated and engaged, they must be rewarded for their hard work. Whether through bonuses, time off, or other perks, rewards programs are an excellent way to do this. This blog post will discuss few principles for building an effective employee rewards program that can help increase productivity and foster loyalty among your staff.
- Reward effort, not just results
Hard work and productivity are important for any company. Rewarding employees based on their output can be a great way to show appreciation and encourage them to continue working hard in the future. However, if you only reward your team when they hit their goals or surpass expectations, then you’re missing out on an opportunity to recognize what it takes to get there. Namely the dedication and determination needed along the way.
- Tie rewards to a company goal or initiative
If you’re going to reward your employees, it should align with something bigger than just their efforts. For example, tying awards and bonuses directly to a larger organizational objective, such as hitting targets for the quarter or closing out an important project on time, can help motivate them even further by showing how integral they are in helping achieve success.
- Offer rewards that are relevant to your company culture
It’s important for employees to feel valued and appreciated. However, offering prizes or awards outside of their interests can leave them feeling unappreciated instead. For example, an avid music fan might be excited about winning tickets to a concert but wouldn’t care much about receiving coupons at the local restaurant.
Therefore, before giving away any themed gifts (like popcorn tins), ensure they’re personally relevant by knowing what each person likes best. The employee recognition programs can help you to boost the moraleof your employees.
- Tailor rewards to each employee
The best way of knowing what your employees would appreciate the most is by asking them. After all, there’s nothing worse than getting a gift that you’re not interested in or had no idea existed until opening it up on your special day. To avoid this problem, ask for their input and let them choose which items are included as part of their awards package.
So, it can be helpful if you offer choices for rewards to your employees (e.g., cash vs. vacation days), but make sure they know it ultimately about what will mean more to them personally rather than trying to find out what everyone wants at once.