Employees crave recognition and appreciation for their hard work and the best part is that it is the best incentive you can give them.
Rewards will help you significantly because employees who know that they are valued are generally more productive and enthusiastic about their job. You don’t need to worry here because these ‘rewards’ don’t have to be materialistic. Of course, a pay raise can help you a lot but you can’t always keep increasing their pay. These rewards are usually verbal and motivating. There are also very inexpensive gifts that you could choose including gift cards, gas cards, and so on. Done right, you can do wonders! Here are tips on rewarding your employees:
The Reward Should be Immediate
You shouldn’t wait a week or a month to reward your employees. The reward should be quick and immediate. For example, as soon as you hear that a certain employee did a great job in some task or some project you should reward him or her right there. That is when it will have the highest impact.
The Reward Should be Personal
Add a personal touch to the reward and the value of the reward will increase manifold. This will also improve relations with employees and they will trust you more than they ever did. Also, appreciating the employee personally can help. If you can’t do it in a meeting you can use Skype, email, or the phone to convey your regards.
The Reward Should be Explicit
When you reward your employee he or she should be aware of the reason behind it. Keeping it general will not help. Let your employee know what you appreciate and why.
You Should be Optimistic
Some bosses have the habit of praising employees and then puncturing the praise with an accusing ‘but’. Bosses think this is a great strategy when it actually isn’t. When you praise someone you should talk only about the good. You can talk about the negative aspects [if any] later on.
You Should be Genuine
Your thanks should always be genuine. Don’t think that you can get away with fake praise and appreciation. If you are not in the mood to be appreciative, it is better to wait for a better time than to go out there and deliver false praise. Lukewarm sentiments are easily detectable and these will hurt your employees.
It is easy to reward your employees, isn’t it?
Employees work so hard for your company and that is why it is only fair that you acknowledge their hard work. Be sincere, be genuine, and keep the appreciation personal so that your employees know that you really value their efforts.