Job satisfaction, undoubtedly, has an impact on performance. Happy workers are good workers, so keeping your employees feeling valued and satisfied will have a positive impact on your business. Not only will reward and recognition programs help you to retain staff and avoid the high costs of staff turnover, it will increase morale, motivate people to improve and succeed, prompt loyalty, and increase productivity.
When you see companies like Google offering incentives such as free haircuts and laundry services, it’s clear to see that such recognition schemes work. Many successful companies in the world offer fantastic programs and it isn’t because they are so rich that they no long care about overheads costs. In fact one of the reasons that they became so successful in the first place is due to employees who are hardworking, loyal, and productive. Of course, not all companies can afford to lavish their employees with such expensive benefits but even low level, low cost reward and recognition programs have a significant impact on employee engagement and help to retain staff.
It’s important to implement the right program for you – one that will work for your employees and for your business. Here are some tips on setting up a plan that suits your needs:
Ensure the rewards are something that the employee actually wants. A cheaply printed certificate or an ‘Employee of the Month’ badge may seem like rewards but realistically, they mean little to your staff and won’t promote employee engagement. Instead, offer them something tangible – perhaps shopping vouchers or even an early finish on a Friday afternoon.
Present the reward in public. A quiet word in the office might be easier, but presenting the reward in front of peers will increase feelings of appreciation and may motivate other employees to follow suit.
Make the goals of your program clear to all and be honest! Offering all manner of benefits without being upfront about why may create suspicion. Similarly, if you are aiming to improve one particular area of work, being open about your goals will help to achieve them. For example reward attendance or teamwork specifically as opposed to an all-encompassing ‘Best Employee’ type of award.
Implement the system fairly. Ensure that all employees are eligible to receive rewards rather than only managers, or only sales staff. Likewise, use peer-to-peer evaluation rather than having a manager select someone, in order to avoid favoritism or accusations of favoritism.