Why Reward Your Employees Already Today
Why Reward Your Employees Already Today
“Keep your eyes open and try to see people working well in your company. Then appreciate them for that,” said author and sales skills coach Tom Hopkin.
The topicality and necessity of employee evaluation and rewarding has significantly increased. Now, 59% of companies integrate employee reward system into their talent development strategies. Only 28% of employees are evaluated by their managers every week. And 93% of employees want to be rewarded at least once a quarter.
Companies need to appreciate their employees’ diligence and strength to reward their efforts, achievements, and proposed initiatives. In the survey, 90% of employees in the human resources departments indicated an effective appraisal and remuneration system plays a role in improving the company’s performance and retaining employees. Read more: The Best Ways to Reward Employees.
For what achievements do employees want to be rewarded?
The Deloitte survey found that 40% of employees mainly want the company to value their achievements, 24% to report their knowledge and 20% to employees, and 16% to appreciate core values as a reason for evaluation.
Reward employees this week and regularly!
There are many reasons for company employees to receive regular gratitude. Read more: How to Reward Employees and Increase Motivation.
Here are some ideas for why your company’s employees deserve an evaluation now and regularly:
Employees show initiative for improving the quality of work. Employees use their knowledge to perform tasks, improve work performance, and achieve goals more successfully.
The employee has organizational skills. Such employees motivate their colleagues and take care of successful work performance. Employees also use organizational skills for meetings and less formal events. When a company rewards its employees’ attitude and behavior, its employees’ efforts are valued.
The team is united and provides mutual support. A cohesive team works with a shared consciousness that is focused on achieving the goal. Studies have confirmed the impact of peer relationships on job satisfaction and job performance. 34% of employees indicated that there was not enough interaction in their work team. Therefore, it is important to assess if the team is united and friendly in the company. In evaluation, the relationship is further strengthened.
Employees have completed all tasks on time. Achieving goals in the company is one of the most easily achievable and noticeable achievements. 81% of employees indicated that management’s performance appraisal motivates them to work even more productively.
They have reached a weekly, monthly or semi-annual, or annual plan. Noticing achievements is the reason for the evaluation, which is the reason most employees want.
Customers have given good feedback on the company’s employees, services, products. Positive customer feedback is one of the highest achievements that employees can achieve. It represents a symbol of not only good but also brilliantly accomplished work.
Employees promote well-being. For example, their diet consists of healthy snacks and meals, and employees devote time to physical activity during the day. Employees also use their experience to inspire their colleagues, and as a result, the team promotes shared well-being.
Employees arrive at work on time. Evaluate the serious attitude of employees towards work. Such employees have a strong work ethic, which can be reflected in positive ambitions, a high sense of responsibility and productivity, and high work ability.
Employees regularly acquire new knowledge individually or in a job growth program. Growth-oriented employees invest time in developing additional knowledge and using it to get the job done qualitatively. 94% of employees say that acquiring knowledge provides benefits and growth in their careers. Acquisition of knowledge is progress by which employees strive for excellence, so it is important to reward engagement in training.
70% of companies with an employee rewards program link remuneration to specific company values. And 55% of respondents indicated that ratings and rewards are mainly related to individual achievements.
The frequency of rewards affects how valued the employee feels
By valuing and rewarding the employee immediately for what they have done well, the company allows employees to feel visible and heard and provides motivation to continue future tasks with equal value. It also helps to make employee appraisal a regular process.
Survey data show that 65% of employees believe that employees are not praised regularly. Simultaneously, the majority, or 72% of employees, indicated that they are evaluated less than once a week, i.e., once a month, once a year, and never. The more regularly the company praises its employees, the more valued they will feel daily.
Also, orally and in writing, “Thank you!” is of great importance. And this way of expressing gratitude helps the company to quickly and regularly evaluate employees. Also, the employees themselves appreciate these forms of appreciation. Namely, 54% of employees would enjoy an oral and personalized “thank you” for daily achievements, 31% of respondents would appreciate a written “thank you”, and other employees would choose a celebration (7%) and a gift (7%).
Which members of the company do employees want to receive an assessment from?
The majority of employees (37%) want to hear and receive an assessment from senior managers, 32% of employees would choose to receive it from their line manager, and 31% from their colleagues. So the data reveals that employees must get evaluation and recognition from both the company and the line manager and colleagues.
Evaluate the company’s employees as people, colleagues, and employees and reward them for their excellent work and achievements. It is important to thank the employees regularly and immediately after what has been achieved. Keep your appreciation and gratitude personalized and created right for your company’s employees.
Employees want to be valued for their achievements, efforts, and human qualities, which positively impact work quality. Appreciate your employees today, because they deserve it!