As a boss, you must know what motivates your employees and makes them tick. Coming up with great ways to reward and recognize your employees’ results in a happier workplace and more loyal workers. However, it is not always easy to create the right incentives.
Before you spend a lot of money or time coming up with a reward for your employees, take some time and deeply consider the workplace dynamics. You should not give the same kind of gift to everyone. Understand who you work with most directly and reward them with something personal. If you are at a large company, giving a lot of rewards instead of useful rewards is damaging. While some rewards and recognition should certainly be the norm, be sure to be smart about what you personally distribute because it is a great way to reward loyal and hardworking employees efficiently. Cheap swag bags are not what employees want. By being more efficient about rewards, you can give them something they actually value.
Another fantastic way to recognize your employees right now is to increase acknowledgment of their efforts. Be sure to mention specific efforts and achievements because it increases your bond and acknowledges their importance to the company. Another essential way to recognize your employees is to offer them public support in writing, whether this is a glowing informal assessment or a complimentary post on LinkedIn. Giving your employees something that is not just verbal but written and tangible is a great way to help them and invest in their success.
Some companies may find it beneficial to go beyond surprise gifts and implement a reward system. These systems are a great way to motivate your employees internally. However, effective reward systems take a lot of work. It takes time to get to know your employee pool and what would encourage them without resulting in negative competition. In fact, many companies struggle with offering compelling rewards at all. One issue is a system where it is clear there will only be one winner because this often fosters harmful competition, and some people won't try at all. If you are struggling to come up with a reward system, it is savvy to consider outsourcing the problem to outside companies. Some companies, like Maritz Motivation, know just how important it is to implement a reward system for employees.
Giving your employees time off or having a paid company lunch are excellent rewards. Research has shown that giving employees time off actually increases their productivity and efficiency when they come back. By letting them have more time with their families or periods to work on their passion projects, they will return to their work more focused. Additionally, buying lunch for your employees is a fantastic way to reward them and improve group cohesion. Strong bonds form when people eat together, and this is no exception.
Your employees will enjoy their work more, get more creative, and increase their investment in the company if you implement the right incentive system. Whether you outsource the job or do the legwork yourself, rewards are a phenomenal way to motivate employees.