Everything from employee engagement to retention to overall revenues can be influenced through employee recognition. Seriously. The term “can” be crucial here. Despite the fact that almost every company has an employee recognition program, it is usually ineffective. Let’s look at who, how, and what you can do to improve the effectiveness of your recognition rewards.
Employee award ideas:
In the end, inspiration comes from inside, yet employees are more engaged when they are recognized for their efforts. Consider it an effort to honor the hard work that has already been done, rather than bribing or coercing.
What factors do you consider while deciding what to reward? Begin with your company’s values. Value-driven recognition not only encourages the desired behavior, but it also aids in the development of the desired company culture.
Who and when are you going to recognize?
- Service Awards: Once a year, on their work anniversary, honor your personnel. This is a fantastic way to thank them for their years of service, and it should be celebrated.
- Spot Recognition: When you witness someone doing something extremely well, you can award points or a gift card.
- Peer-to-Peer Recognition: These are a type of peer-to-peer recognition. Encourage your team to acknowledge one another. This is a fantastic method to get staff involved in the process.
- Sales Incentives: Encourage your sales crew to keep bringing in the big cash by providing incentives.
This may seem obvious, but rewarding the behavior you want is the key to effective rewards. Employees are more likely to establish the corporate culture they want if they are rewarded for their basic principles. If you treat rewards like a prize, make sure your staff is aware of the game’s rules, or what they must do to receive the rewards. Value-based incentives apply to all employees, regardless of whether they work in sales, product development, manufacturing, or any other department. It’s a terrific way to make your awards more inclusive. Anyone who embodies values is entitled to participate.
Here are some brief reminders now that you know what types of incentives you can do.
- Individually significant
- Through an encounter, elicits emotion
The idea is to make employees feel valued. This does not necessarily necessitate monetary compensation. It could be anything as simple as a handwritten message from a team member, or it could be a group of team members.
You’d be surprised how often a token of appreciation is just as valuable without a monetary value attached.
ABOUT THE AUTHOR: ADVANTAGE CLUB
Advantage Club is a global provider of employee benefits. The platform serves to digitize all employee demands under one canopy through numerous employee engagement programs such as incentives, rewards & recognition, flexible and tax-saving modules. It now serves over 300 organizations in 70 countries and has over 10,000 brand partnerships.