The Essence of Giving Employee Rewards and What Business Owners Need to Know About It

The Essence of Giving Employee Rewards and What Business Owners Need to Know About It - People Development Network
The Essence of Giving Employee Rewards and What Business Owners Need to Know About It - People Development Network

How to give employee rewards

Giving employee rewards must be regularly done to make them feel important. It also makes them strive harder to do better at work.

Employees must be recognized for their hard work and dedication in doing their job. They should also be recognized based on their behavior at work. Several employees have done their best but they don’t feel like their efforts are being appreciated. This makes them feel less energized to give their best when working.

There are a lot of ways to determine who the employees to be given rewards are. There are also a lot of ways to make them feel special with rewards without necessarily giving cash. The point is to let them know that their hard work has been recognized and challenge them to do even better.

Common Mistakes & Misconceptions

Giving employee rewards must not be randomly made to an employee. There should be clear standards in regards to who receive the rewards and what kind of rewards must be given. This allows the employees to understand exactly what it is that they need to do for recognition. If they have failed to receive employee rewards, they won’t feel bad because they know they have not met the standards.

Providing rewards without a clear reason is also a big mistake. It has to be clear to the employee receiving the award what it is for and why. For instance, the employee must know that the reward is for consistently coming to work on time for a few months. It may also be because of selling a certain amount of products, going well beyond the quota.

Finally, rewards have to be varied depending on the achievement. There are achievements worth recognizing through public announcement. Others deserve bigger rewards such as gifts. There are smaller rewards for achievements done on a daily basis which can be appreciated by simply leaving a post-it note on the employee’s computer screen. This means that different achievements are rewarded in different ways. This gives everyone the chance to be somewhat recognized for a job well done.

Figuring Out the Specifics: Exactly How Should you Reward your Employees?

Rewards can come in different forms. They may be through a personal lunch with the business owner or the CEO. This is ideal for employees who rarely see you as they don’t join executive meetings. This means a lot to them. It makes them feel really special since their accomplishment was big enough for the CEO to clear the schedule just to have a few minutes with an employee.

Another type of employee reward can be in a form of office perks. From massages, to a unique working space for the team to food trucks parking at your office area – there are a lot of options in store for you as a business owner. Some requiring extra budget and some that don’t require all that much of a budget at all.

There are other rewards that are personally satisfying but may also contribute to the employees’ improvement at work. For instance, you can send someone to a seminar in a different city or country. This gives them the chance to improve their skills and at the same time relax during a vacation. Providing them with free membership cards to special seminars or clubs may also be of help. This gives them the chance to join organizations providing help for professional development.

Of course, there are more special rewards where employees receive some form of monetary assistance. This doesn’t mean they receive cash, but they get financial help by paying their tuition fees in graduate school or giving them gas allowance for a month. Anything that helps make their lives easier by helping them make their ends meet would be highly appreciated.

Now that you understand the need for providing rewards and how it should be done, it is time to come up with a clear plan for a fair employee reward system.

 

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