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You most likely have team members who are very motivated and perform well. They need to be rewarded. If your key employees are motivated to put in the time and extra effort to do a good job on a project they should be rewarded in some. Rewards don’t have be monetary. There are many ways to make an employee feel rewarded for their hard work. It can be as simple as a thank you and recognition or as much as an opportunity for a promotion.
Businesses need to make sure they don’t extend their budgets or create unrealistic expectations from their team members as far as rewards go.
You have probably at some point in your career, worked for someone who refused to acknowledge or reward your work. You know, that boss who expects you to work around the clock for minimal pay, who discourages his employees from creating friendships, asks you to work on projects that are below your level and often tells other employees how he doesn’t like you or your work. He made your job miserable and you couldn’t wait to find a new one.
He should take notes on the many ways to reward motivated employees.
- Money of course is the reward most businesses think of when acknowledging motivated employees. Bonuses, raises, stock options and other financial gains have long been used.
- If your employees feel they are already being fairly compensated, then other types of rewards are called for. Recognition is a big one. People like being thanked for doing their job.
- Offer some type of new opportunity as a reward. It can be anything. For instance, give them the opportunity to sit in a panel discussion. Or give them the opportunity to further educating themselves or to get involved with a mentorship opportunity.
- Exposure to other members of the staff or in their field or to access to important clients. Create an employee of the month board where everyone will see it. Or invite them to have lunch with the boss and a key client.
- Praise them with a personal, hand-written thank-you note for a job they did well. Show them your personal appreciation for how much they are valued.
- Reward your motivated employees with extra flexibility in their schedule. Family/life balance often gets thrown out of whack when your employee is spending extra time working on a project. Reward them by allowing them to work from their home one or two days a week or let them start and end their days earlier.
- Give them a comp day as a reward. Giving them a day off work is a simple way to show your appreciation for their hard work. Or give them an extra thirty minutes for lunch.
- Reward them with a gift card. Personalize the type of card to the employee. If you know they love fishing, a gift card from their favorite sporting goods store will be appreciated. If they love playing the lottery, buy them some scratcher’s tickets.
Rewarding your team members for their hard work can keep them motivated. They will appreciate your caring and be more likely to continue doing a good job for you. Rewards don’t have to cost your business a lot of money. They should be personalized to fit your employees personality and goals.