Many businesses still resort to the tired old adage that reward simply equals more money - but where money isn't forthcoming, all efforts at reward tend to fall by the wayside. Here's some fresh ideas on ways you can reward your team members...
All employers know the value and importance of rewarding their employees as part of their employer brand - after all, reward is linked entirely to recognition.
What your people really want is recognition that they are working hard, contributing and going the extra mile. This approach applies especially to millennials, who quite famously are less attracted by 'offices in the corner' and instead want to do meaningful work that offers them intrinsic value.
From this starting point, it's easy to see that there are plenty of alternative ways through which you can recognise and reward your employees. And when you get it right, you will boost your employer brand, reduce employee turnover and build a more engaged, high-performing workforce.
Say Thank You
It's easy to forget this fundamental step in the reward and recognition structure. A heartfelt, personalised thank you can go a long way when an individual has put in extra effort. Say thank you, add a public thanks and perhaps send a handwritten note with a token gesture, such as a voucher. No matter how big or small, it goes a long way to your employees happiness and wellbeing.
The important thing is that you take the time to recognise the effort, pinpoint the detail of it, flag up that you have noticed it, and explain the impact of that effort. An old-fashioned 'employee of the month' board doesn't go amiss either. Expect to hear good-natured ribbing about it, but the reality is that most people love the chance to be publicly recognised for doing a great job.
...and who doesn’t like getting presents? There’s nothing quite like receiving a gift, especially one that you didn’t expect. It really does give a lovely feeling of appreciation, and the great news is that feeling can be harnessed by your brand with a carefully thought out gifting campaign. Check out some gifting ideas, and how Fluid can help you, here.
Build in Flexibility
Today's employees want to be able to work more flexibly. With family commitments, long commutes and increasingly complex lives, the ability to work from home, to have the odd duvet day and to have flexibility over working hours goes a long way. This is a powerful way to build an employer brand that other talented individuals will want to work with.
Provide your staff with the autonomy to make decisions about where and when they work. Collaborate with HR to set a framework that meets the needs of the business while supporting individuals and recognizing the power that digital working methods offers to a modern organisation.
Flexible working options can create a great work / life balance and with increased options for remote working, companies are embracing this practice and technologies.
Improve the Surroundings
If you invest in the workplace then everyone will feel rewarded. Upgrade the break room area, put in office plants and flowers and treat the office to fruit boxes and decent tea and coffee. Improve the lighting, make sure offices are clean and put artwork on the walls. Encourage your team to come up with ideas for how they would like their surroundings to be developed and engage them in the project so that they can feel ownership.
New starter kits are filled with creative merchandise essentials to settle new employees into their role. Presenting these kits not only creates a good first impression it also gives you brand exposure outside of the work place.
Get Everyone Out of the Office
Who doesn't love a bit of team building? Get out and about learning new skills and develop your company's ethos.
Team building days are a classic way of rewarding good work, but they also stimulate creativity and fresh ways of working by encouraging everyone to get out of the office, to forge new relationships and to think about business problems in a new way. Get everyone outdoors to benefit from nature and movement. There are plenty of inclusive activities that allow everyone to have fun together while being challenged at all levels.
Individual Rewards
There are various employer schemes, such as Perkbox, that allow businesses to customise the rewards that they offer to staff and to manage them in an effective way. Offer staff the chance to choose their own gifts when they do good work – from flowers and restaurant vouchers through to charity donations. Again, this move recognises individual preference and customisation.
So remember, focus on rewarding employees and reap the benefits. You'll increase staff retention, boost morale and see overall productivity gains, helping to build a competitive, successful business for the longer term.
At Fluid Branding we reward our customers and employees with our own bespoke rewards platform take a look here to find out more.
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