Creative rewards inspire loyal employees

Recognising a job well done is a fantastic way to perk up employee performance. It can be a powerful motivator and it doesn’t have to cost a lot of money. It just takes some creativity and a willingness to say “thank you”.

When you are developing your rewards system to motivate and retain top performing team, create perks that are company-wide and some that highlight specific individuals who have done a great job.

Some Suggestions:

• Take employees who put in extra hours to complete urgent projects out to a nice lunch or slip them some tickets to a movie, play or concert.
• Write a thank you to those who give excellent service to customers and post it in a prominent and visible space.
• Give extra time off to show appreciation for exceptional workers. However this should be exercised with caution as it is likely to lose impact over time and place a heavier burden on remaining staff.
• Offer bonuses. They don’t have to be grand but they are proven motivators and appreciated by employees.
• Publish your customer’s praise of an outstanding employee. Make sure you pass this on to the employee.
• Sending a team email or taking time during a staff meeting is a great way to extend recognition.
• Encourage your team members to recognise their peers by nominating a “team player of the week” or “MVP”.
• Link bonuses to yearly net profit so that all employees work toward a common company goal – “profit related pay”.
• By taking the time to be creative in your rewards program you save money and gain a competitive advantage against like size and bigger organisations that are competing for your employees.
• Creative rewards inspire loyal employees who work hard to make the company successful. When you care about your people, they will care about your company.

This article is intended to provide general information only, and is not to be regarded as legal or financial advice. The content is based on current facts, circumstances, and assumptions, and its accuracy may be affected by changes in laws, regulations, or market conditions.  Accordingly, neither Azure Group Pty Ltd nor any member or employee of Azure Group or associated entities, undertakes responsibility arising in any way whatsoever to any persons in respect of this alert or any error or omissions herein, arising through negligence or otherwise howsoever caused. Readers are advised to consult with qualified professionals for advice specific to their situation before taking any action.