Here are some of the best rewards that will motivate your employees.
1. Take Your Employees to Lunch
There is no need for non-financial benefits to be extravagant or lavish. The café down the road is a better treat than the lunch they carried from home. This also gives them time to discuss issues not specifically related to work. Taking a worker to lunch demonstrates that you care beyond the office walls. Moreover, it’s a good shift of scenery–certainly better than sitting all day at a desk or in a cubicle. For millennials, motivation takes more than money. You may then realize that your staff is more refreshed and rejuvenated at work.
2. Always Link Rewards to Performance
For rewards to have the desired effect on employee performance, they must be immediately related to the required conduct. Link praise, appreciation, monetary incentives and non-cash benefits for particular results. When employees know the link between their reward and achievement, they will be encouraged in the future to perform optimally.
Your employees work really hard and they deserve to be rewarded from time to time. It makes them feel valued and motivates them to continue working hard. There are some organisations like Global Reward Solutions, that make it easy to reward your employees. Through our cloud-based reward management system, you can enhance your business by getting rewards from hundreds of suppliers worldwide.
3. Give the People What They Want
You need to put yourself in their shoes and consider what is actually meaningful to your employees in order to come up with rewards for which your employees will actually want to work. Distributing rewards that your employees don’t see as worth the effort won’t boost efficiency and will end up being a sunk cost.
Think about what company or business-specific rewards you can offer—rewards they can’t obtain anywhere else. Branded equipment is a great idea but it needs to be cool and exciting. Stay away from pencils and pens and branch out to cool tech equipment like portable speakers, chargers, smartwatches and much more. Experiences such as masterclasses for your company specifically, VIP parking for a month, and office-wide rewards like a DJ for a day will show your workers how much you care, along with giving them experiences and products they will appreciate.
4. Offer Non-Monetary & Monetary Rewards
Reward systems that combine monetary and non-monetary rewards, as well as social awards (e.g. praise and recognition), have the greatest effect on the performance of employees. Pay cash bonuses in a lump sum to maximize their effect as money motivates only when it is a substantial amount.
5. Throw a Department or a Small Company Party
When your staff is burned out, it can be quite hard to get them to produce quality work efficiently. This is particularly true with low morale. Why don’t you give them a chance to have fun?
Great non-financial benefits can be given in the form of events. Plan the event ahead of time and let it be marked on the employees’ calendar. Office parties give coworkers a chance to become more than just peers. It also helps builds morale which is essential for achievement in the workforce. As a consequence, they feel supported, build bonds, and enjoy work more. Also, a party improves a team’s cooperation.
So, don’t forget to reward your employees for their hard work so that they continue to put in the effort you want.