Keeping your best people is imperative to business success. However, it’s also harder to retain them with your competition searching for smart, talented candidates – even passive ones. How can you keep your hard-working team loyal and productive?
Rewarding them is one way to keep them committed. In fact, according to studies, 78% of employees work harder when they are rewarded. They’re also more satisfied on the job. For you, this means less turnover and higher rates of retention.
That said, rewards and recognition can be tricky business. What motivates one person might not cut it for another. Different workers have different personalities, and it’s hard, if not impossible, to please everyone in the same way.
Yet, putting rewards at the top of your priority list is still vital. To do that, here are a few guidelines to keep in mind.
Does Rewarding Your Employees Lead to Better Productivity?
Offer reward options.
It doesn’t matter so much what you give – as long as you are rewarding your employees when they reach an important milestone or go the extra mile on a project. To meet the different preferences of those on your team, offer options such as extra vacation days, tickets to a concert or game, free training courses and seminars, or the chance to extend a corporate travel opportunity into a vacation.
You don’t have to offer a reward for every accomplishment. Simply providing praise and recognition goes a long way in showing your gratitude toward your team. It tells them you appreciate their actions and their abilities, and it also makes them feel good, so they’re happier at work.
However, when it comes to recognizing accomplishments, timeliness is key. Don’t wait weeks to thank or praise an employee. It will lose its impact if you do.
Show your appreciation for hard work and a good attitude.
When you have employees who get the job done consistently, all with a positive attitude, it’s worth a thank you. These are the people who will help you build a stronger, more productive team. You, therefore, want to keep them happy and motivated. Plus, when you reward these employees, not necessarily for a big accomplishment, but for their willingness to be a good team player, you’ll motivate others to act in the same way.
When it comes to rewards, don’t do it once a year. Recognizing and rewarding employees should be a part of the overall business culture. You always want your people to feel appreciated at work and satisfied in their careers.
Need more help hiring hard workers for your team?
As one of Orlando’s leading staffing agencies, our recruiters can connect you with talented and skilled employees, whether you’re looking for temporary workers or full-time employees. We’ll recruit, screen, interview, and onboard them, so they can get up and running as quickly as possible. Contact Future Force today to learn more.