If you are managing a team of employees, it is your responsibility to make sure that team is working efficiently and diligently. Motivation works best with a reward system, rewarding the staff that performs well.
There are various rewards you can offer, and below are four of the top choices.
Promotion – Most people are motivated to climb up the corporate ladder, so a great reward to deserving employees is to offer them a promotion.
Although promotions usually lead to increasing salaries, that does not always have to be the case. Even if you cannot authorise a pay increase, a promotion will make the employee feel recognised and validated. It will also signal to that person’s co-workers that the company notices and rewards hard work.
Bonus – While the best reward to any employee is always a pay increase, it is not possible to commit to that every time.
Pay increases force the company to pay a higher salary to that employee year after year. A great strategy to employ as a reward system is to give out one-time bonuses. These can vary in sum from a small amount to a large one, depending on the person’s position at the company and what the reward is being given for.
Bonuses work especially well for managers of sales departments, where a bonus is offered every time someone exceeds a sales quota.
Time Off – If your department has just been preparing for a special event or working extra hard to finish a project and have worked many hours of overtime, reward them with time off.
Whether it is a Friday off or a half-day, the exhausted employees will be very grateful to have extra time to run errands or spend time with families.
Corporate Events – A smart reward to offer to employees is a corporate outing. If a group of your team members have excelled at a task, or just deserve a fun day out, plan a lunch, dinner or a corporate party.
Not only will this signify to your staff that the manager is noticing their hard work, but it will bring all the employees together outside of work hours to have fun together. Having corporate events allows colleagues to relax and get to know each other better, usually leading to better communication and effort at work.
Utilise these five options to reward your employees and show them that management notices and appreciates their hard work.