How Rewards And Recognition Help Increase Productivity In Business
Retaining employees is fundamental when aiming to boost productivity levels in the office. Recognizing the hard work your team does can have a significant impact on your ROI. Studies emphasize that 78% of workers work harder and with more drive when their efforts are being rewarded. The more you focus on acknowledging your people’s hard work, the better chances you have to keep them happier and more committed to your company’s end goal. However, it’s tough to please everyone in the same way. Here are some “sticky” guidelines that you might want to consider to help increase productivity and execution in the office.
Rewards – a corporate imperative!
A well-thought recognition and rewards program has recently become imperative in the business environment. Today’s modern work environment is dominated by employees in their early 20s.They might have energy and drive to complete all their tasks in time, but if you don’t keep them interested, their enthusiasm will slowly fade away. Rookies are preferred by top-tier enterprises because they bring fresh ideas to the mix. Most of them are not really looking to get a big salary because they’re more focused on learning while working for your company.
What matters these days is that your people’s efforts are rewarded. We don’t necessarily mean financial incentives. Volunteer opportunities, free training courses, tickets to business conferences, and teambuilding sessions are events they look forward to attend. Youngers perceive these activities as an opportunity to make friends, build connections, and expand their knowledge. As they learn, you’ll notice a shift in behavior, and their eagerness to work with more enthusiasm will increase.
Don’t reward accomplishments that don’t benefit your company’s bottom line, and focus on expressing your gratitude for things that truly matter. Appreciate actions that complement your business’s goals and strategies. Focus on assessing key behaviors that match with your company’s mission. If you’re new to entrepreneurship, using your employees to determine goals is the perfect time to settle on the some priorities.
Appreciate both big and small victories
When companies are focused solely on rewarding big wins, it affects the whole company’s equilibrium. It basically conveys that you only care about winning big projects, and that the smaller ones don’t matter at all. It’s very important that you stop your people from feeling disappointed with themselves. You can do this by celebrating smaller wins too. Show them that you appreciate their efforts, regardless of the outcome of a certain project. When you pinpoint small wins, you basically show them that their efforts are being appreciated.
Become a team player
Rewarding employees who work the hardest and play nice at the office is a great way to increase productivity in the office. Why does it matter so much to reward employees who don’t allow their egos to get the best of them? Because it preserves a healthy, fruitful company work culture. It will also help increase productivity.
Corporate travel as a reward
Traveling for business purposes doesn’t have to all that nerve-wracking. In fact, it can be treated as a reward. Most employees work daily 9 to 5 jobs, Monday to Friday. Since they can’t find time to relax, going on a short trip might be the best way to combine work with leisure. Take them a business conference, or consider a 2-day teambuilding event for everyone. This will show that you can about what happens with your people, and in return their feel more appreciated and committed to working harder to help boost your company’s bottom line, as well as strengthen their skills and expertise.
Bottom line is, it’s not impossible to increase production levels at the workplace. All you have to do is focus on rewarding employees. Don’t just do it once a year because it’s not enough to peak their interest. Don’t it every couple of months. Every 6 months however, it might be a good idea to take them on a trip. It will relax their mind and bodies, and it will help them stay more connected. It’s not compulsory to consider luxury cottages if your budget doesn’t allow, but at the very least take them someplace nice and peaceful.
Alfred Stallion is a regular contributor at many sites and mainly focuses on business related topics. He also writes for www.londonspeakerbureau.com, which is world’s leading speaker and advisory network.
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