How to Reward Employees and Increase Motivation
Maintaining employee motivation in an office environment is a difficult task for a manager. However, it is one of the most important tools in the workplace, as motivated employees are the most productive and produce the best quality work. In addition, if your employees are motivated, workplace morale will be high and employee retention will be improved. How do managers maintain employee motivation? Read more: How to Promote Employee Motivation.
Research has shown that employees are ultimately most motivated by two goals – to earn money and to realize themselves fully within the job. By introducing an employee compensation system that increases team motivation, you guarantee that employees will be rewarded for their hard work. This is a win-win situation.
Rewarding employees should not be too expensive and extravagant. The frequency and regularity of evaluations is a much more important component in the implementation of successful employee reward systems. Start, for example, by acknowledging employees who go beyond their roles and responsibilities. This is a first step in improving the employee motivation system, but it should always be continued even if more forms of rewards are introduced. Recognition is always important and costs nothing, but it has a huge impact on employee motivation and your business.
Give employees what they want
Earning wages that employees do not consider worthwhile will not increase productivity. To come up with a way of rewarding that makes employees really want to work, you need to “step into their shoes” and consider what really matters to employees. Think about what rewards you can offer that are specific to your company or business, rewards they can’t get anywhere else. Branding accessories is a great idea, but it should be interesting and cool. Experiences like masterclasses specifically designed for your business and brand, VIP parking for a month, and all the features of an office environment, such as a DJ for a day or lunch, will show employees that you really care and provide products and experiences that they really care about.
Rewards do not always mean money. Non-monetary rewards can often be as effective as monetary, if not even more effective. An additional holiday from work or the opportunity to work from home once a week can be highly appreciated.
Offer growth opportunities
Especially if your business is expanding rapidly, the opportunity for employees to grow in the company is a huge motivator. In this situation, there is a psychological factor, which means that employees feel trusted and respected for their work. If there is someone who does a particularly good job, such as with inventory, consider encouraging that person by offering to take over the management of this department completely. By giving the best employees opportunities for growth, they will see the job not as a temporary job, but as a full-fledged career. Read more: Personal Growth in a Team
These simple steps show that employee reward systems are not as intimidating as they might seem. Start gradually, recognize small and big achievements, offer creative, non-monetary rewards, and think about what your employees like. By doing these things, your employee compensation system will be successful for both employees and the company, which is sure to thrive.