How To Effectively Reward Your Employees – 5 Tips
When companies acknowledge and reward employees, they reinforce the desired actions and behaviors which they expect the people to embrace. The recognition helps employees understand how the company what culture the company is trying to develop.
Employee recognition is influential for both the company as well as the employee when you integrate a system where the feelings of being valued and rewarded are built up for everyone. There are several ways to make the employees happy and excited at work, and there is a chance you may have heard of some of these before, but they’re worth repeating. Some quick and easy to implement strategies include things like fostering an optimistic work environment, engaging the employees in regular team building activities and providing opportunities to the employees to raise and grow in their career.
A Great Reward System Is:
- Well Balanced
5 important tips for effective recognition:
- Well thought-out criteria: Decide on what kind of performance or contribution will initiate the rewards. Make the employees understand the process and that they are clear on the behavior/actions/attitudes management wants to see. Doing so will make them ready for being successful.
- Encourage Participation: For success to happen, all the employees must be a part of the recognition program and everyone must be able to qualify for recognition. Do not leave out any employee.
- Clearly Communicated: If you or the employees are not clear on the exact information regarding the desired behaviors or actions for which everyone will be rewarded then you’re on a path to frustration and failure. Everyone has to understand when they’ll be rewarded and why. If they are they’ll have fun and performance will increase.
- Give Rewards: If you have a recognition program and you have promised rewards then make sure that you recognize and reward the participants. Do what you said you would do.
- Be Timely: Quick recognition is the key to success. This is as simple as making sure that the recognition occurs as close to the performance or actions as possible. Doing so will help you to motivate and reinforce the desired behavior into your employees.
Bonus Tip: Don’t design a process in which managers select the people who are going to receive recognition. Employees will see this type of process as managerial favoritism. Or, they will get blasé about the recognition program and you’ll start hearing phrases such as, “Oh, it’s your turn to get recognized this month.” You can see this with programs like an Employee of the Month, where people just lose their enthusiasm for it.