3 Effective Ways to Reward Employees
Employees are any business’s most vital resource. When these individuals perform at peak efficiency, an enterprise is sure to benefit. Conversely, when they feel unmotivated or generally dissatisfied, an enterprise is likely to suffer. That being the case, it behooves every employer to keep team members happy and motivated – and rewarding hard work is among the most effective ways to go about this. Employees who feel valued and recognized are far more likely to put their best foot forward than those who feel that their efforts have gone unnoticed. Businesses looking for ways to reward high-performing employees should put the following pointers to good use.
- Appreciation Gifts
An act of employee appreciation doesn’t always have to be a grand gesture. For many members of the workforce, simply knowing that their efforts are noticed and appreciated is sufficient motivation. When shopping around for thank you gifts for employees, you’re sure to find plenty of options from which to choose. If you’re looking to go small, a custom coffee mug, plaque or motivational poster will often suffice. Conversely, if you’re looking to go big, a gift card, trophy or paid time off are all fantastic options. Knowing that your hard work hasn’t gone unnoticed is a magical feeling, even if your employer can’t afford to break the bank when buying appreciation gifts.
- Promotions and Pay Raises
While appreciation gifts are nice, long-time employees often want to see their efforts rewarded in a more substantive manner. If you’ve given years of your life to a business, it’s only natural to expect the occasional promotion or pay raise – especially if you’ve consistently delivered on your promises and put your best foot forward. When people go long periods without receiving either, job dissatisfaction often sets in, resulting in poorer job performance and reduced employee retention. Providing team members with periodic promotions and raises is a great way to show them how much they’re valued and encourage loyalty to your enterprise.
- Organize Fun Events
If you’re looking to show your entire workforce some love, consider organizing fun outside-the-office events for the whole crew. These events can range from renting out party space to giving your workers a day of fun at an amusement park or sporting event. Furthermore, employees should be encouraged to bring family members to these outings, and activities for children should be provided. An outside-the-office event can be a great vehicle for cutting loose and letting off steam after your team meets a big deadline, so if possible, try to schedule these outings to coincide with the completion of significant projects.
If an employee feels as if his or her hard work is meaningless, a sharp decline in job performance is likely to follow. After all, if one’s efforts are perpetually unrecognized, what’s to be gained from going the extra mile? With this in mind, every enterprise would be wise to recognize talent within its ranks and administer rewards accordingly. When working to increase employee satisfaction, a little bit of recognition can go a long way.