Your employees work hard for you, day in and day out. One of the best ways to fill their sails, recognize hard work, and encourage future performance is through employee recognition programs.
If you’ve held a job, you probably have some experience with employee recognition programs. You might even have one at your workplace. They take different forms, everywhere you go, but there are some common elements, including rewards.
Rewards are often prizes, cash, or experience-based and your choice of rewards reflects the nature of the work and your envisioned results. For example, cash bonuses are common in a sales department. Many workplaces hold employee parties to punctuate intense periods of work or appreciate the team as a whole.
If you are using cash rewards to drive results and appreciate employees, take some time to consider some compelling data concerning cash rewards. Cash rewards are shown to derive considerably less results than using a non-cash rewards. Here are a few facts about cash rewards:
Employee rewards go way beyond making employees feel good about themselves. It also makes them more invested in the workplace. Leveraging employee engagement is a good way to increase performance, and companies see a variety of benefits from employee incentive programs. Generally, above average employee engagement translates to:
It’s hard to argue with figures like that. Whatever you decide to use employee recognition for, it’s important to remember that the success of your program lies in the execution. A poorly conducted employee recognition program fails to achieve great results, and can actually work against you.
The first thing to remember is that the reward must match the accomplishment. A promotional mug for being the top seller in the department is an unsatisfactory reward. Small rewards are best for ongoing appreciation or showing gratitude from day to day.
Some of the most effective rewards include travel, social occasions, promotional items, and gift certificates. At DFC we can help you with ideas for promotional items such as professional embroidered apparel, customized awards, mugs and high-end tech items, just for starters.
While it’s important to create a rewards system that is meaningful to employees, that doesn’t always translate to giving them a resource. Often, the physical prize is just a symbol of the greater reward, or accompanies a bonus. Like a silly trophy that goes along with a cash bonus. The trophy is going to create a lasting memory, and is the focus of the positive feelings your employee has about their accomplishment. Don’t underestimate the value of small objects.
Nobody knows what matters to your employees quite like you do. You are uniquely situated to create incentives that move them. If you need help with creating a rewards program, DFC has experience with products that support your best worker incentives. Our team is ready to share our knowledge of a vast array of products. Call us to start brainstorming some ideas.