Some of the best (and biggest) companies to work for in the world are considered great because of their fantastic reward programs. Lots of people want to work for companies like Google and Facebook and their current staff don’t want to leave – why? It’s all about how fantastic the company makes them feel. On the other side of the coin lack of recognition and under appreciation are often cited reasons for why people leave a job. This leads to a costly and time-consuming turnover process as well as lack of employee engagement and positive morale, and, ultimately, an unhappy workplace. This disenchantment with the workplace can easily result in unhappy customers. Employee engagement is just as important for the business as it is for the staff.
Sometimes, salary alone isn’t enough to encourage engagement and foster job satisfaction. A little appreciation for a job well done and/or recognition for hard work and effort goes a long way. That’s why recognition and reward programs like the ones we offer at RewardCo really do help you to get your employees engaged in their jobs, creating a stronger, more successful business. What’s even better is that programs such as these work well for businesses of all sizes. .
Reward your staff with something they actually want. Giving a bottle of wine to someone who doesn’t drink won’t get you anywhere. Instead, offer up something that will motivate employees to work harder to achieve it. Better yet, offer a choice of rewards.
Be consistent. Many companies offer big rewards once a year – Christmas is a popular time for award ceremonies and bonus payouts. This is great for encouraging engagement in the run-up and during the judgment period but it’s important to foster job satisfaction and hard work consistently throughout the year. In this respect, reward programs that offer smaller and more regular rewards often produce better results than isolated grand gestures.
Offer rewards for all levels of staff, and for different reasons. Awarding only one thing, such as highest sales, may actually have a negative effect if, for example, one employee consistently wins or regularly has significantly higher sales than everyone else. Rather than encouraging healthy competition, this situation could result in resentment and disillusion. Similarly, if you only ever reward managers without recognising the hard working team behind them. Let your programs be comprehensive, rewarding good attendance, effort, teamwork, etc., as well as high sales; and make sure that everyone is recognised and not merely the top performers.
Measure engagement. Creating job satisfaction is important to develop employee engagement but it’s also important not to get too caught up in it. Job satisfaction will only have a positive impact on your business for as long as it actually drives hard work and motivation. Ensure that you judge the success of your programs on engagement rather than satisfaction.
Most of all have fun with your employees and create a strong team, so that everyone wants to come to work and everyone wants the business to succeed.