Coffee Break

Why It’s Important to Reward Employees

If you employ people within your business, then you’ll already understand how important it is to treat them well if you want to get the best out of them and have loyal employees. Not only will they be happy in their work, but you will get higher productivity and efficiency, plus they are more likely to continue to work for you. This is a positive thing because it is much more cost-effective to retain staff than it is to find and train new employees.

What you may not have considered is giving your employees rewards for work well done. Yet this can be an excellent way to show that you are pleased with what they are doing, and it can be a great way to focus them and give them something to work towards. If you’ve never thought of rewarding your employees before, here are some of the reasons why you should.

Better Productivity

Whatever the reward you are thinking of giving to your employees may be – and it could be anything from an additional vacation day to a free lunch, a coupon for a massage or an evening at the theatre and much more besides – you can be sure that it will boost productivity within the workplace.

Your staff will work harder because they want to show you that they are worthy of receiving the reward, and not only will more get done, but it will get done to a high standard because there is something worth receiving in the offing.

There are several ways you can give out these rewards. By using performance management software, you can see who is working hardest, who has fewest sick days, who has gone above and beyond. Naming an employee of the month, or setting a specific target are two ways you can choose who is going to receive the prize.

Job Satisfaction

Workers who are happy and have good job satisfaction are ideal for any business. They remain more loyal, and they do their best work. A reward for a job that has been done well will show your team that you appreciate their hard work, and their job satisfaction will soar when they know that you are thinking about them.

Satisfied workers are more productive, but they can also help you to win more business. If your company becomes known for being good to work for, people will be happy to buy from you because they know you treat your staff well. On top of that, you will be able to have your pick of the best candidates when you need a new staff member because people will want to work for you if they know that you treat staff well.

Offer Feedback

Giving your team feedback – positive and negative – is important. It is something that all employers should do as it will increase morale and help people to work more productively.

If you have a regular staff meeting either weekly or monthly, where you award prizes to the employees who deserve it the most, you can include feedback at the same time. You can explain why this person or that person won this time so that others see what it is you’re looking for and work towards that goal in the future.