Employee recognition and rewards are a great way to show your employees how much you care. When done properly, they can be an excellent incentive for high performance. But before you are handing out gifts or bonuses when someone has gone above and beyond the call of duty, here are 5 things that you need to know:
1) Make sure that everyone knows what’s expected
2) Encourage participation from all levels
3) Provide measurable feedback on success (i.e., “You have exceeded expectations!” vs “Good job!”)
4) Set clear goals with deadlines and targets based on company standards
5) Provide feedback on a timely basis
Employee rewards and recognition programs are important because they not only provide an incentive for high performance but also help your employees feel connected to the work that they do. When people don’t have any sense of autonomy or purpose in their day-to-day work, they are less likely to be motivated and more likely to look for ways out. In order to help create the right environment, you need a rewards system that recognizes both individual successes as well as team achievements.
Employee recognition should be an ingrained practice in the workplace.
– It should be public and specific: recognizing someone’s efforts with a pat on the back or word of praise can go so much further than just privately acknowledging that they did well, it has to happen consistently if you want people to continue performing at their best.
– Recognition needs to be as diverse as your employees are. A millennial will not have the same “I’m happy to be recognized” reaction as someone who has been around for 35 years, so the rewards and recognition should reflect that.
– Recognize accomplishments with tangible prizes: not just praise or a pat on the back – reward employees by giving them something they can physically take home or put on their desk in order to remind themselves of their accomplishment.
At the end of the day anyone can do their job, but it takes someone special to want to go the extra mile. It’s not easy asking an employee for more when they’re already doing great work. So instead of telling them what you need from them, tell them how much you appreciate everything they’ve done so far and let that motivate them to keep going strong.