Everyone wants to be recognised and rewarded when they work hard, and your employees are no different. A reward is a conscious way to acknowledge that their effort, behaviour and hard work has contributed to the success of the company, while also encouraging them to continue working with the same enthusiasm and passion.
What does a reward do?
An effective reward system is a powerful way to motivate employees and rewards can positively influence good behaviour and attitude.
- Shows employees the standard they should aspire to
- Clarifies the outcomes that your company values
- Creates a more pleasant work environment
- Motivates staff to improve their performance
- Validates the importance of their work
- Boosts morale and self-esteem, and improves relationships
How does it benefit your company?
Reward programmes that are well planned and considered, will help the business recruit top talent, create an engaging work environment and improve your bottom line.
- Creates a positive workforce
- Aids in reaching business goals and targets
- Improves company culture
- Creates a better impression of your business from the outside
- Helps in recruitment as potential employees have something to look forward to
What types of rewards are there?
Rewards don’t have to be expensive but they should be chosen to suit the needs or interest of the employee being rewarded.
- There are financial rewards, including: a raise, bonus, gift card, stock options, profit share, benefits, and points redeemable for prizes.
- There are non-financial rewards, such as: recognition, positive feedback, flexible hours, time off, more responsibility, training and professional development, and staff recognition events.
Behaviour that gets rewarded gets repeated. By recognising and rewarding employees for their contribution, it illustrates that their work is noticed and appreciated. Public acknowledgement is a great way to motivate all employees to increase their performance and align their goals with the company’s objectives.
Show your staff that you value them and their commitment through an employee engagement programme from PLP Group. For more information or to see how we can help you, please call 011 449 7300.