From executives of large companies to small business management teams, the issue of rewarding employees must be addressed. When you think of your top employees, does it pop to mind how you reward them? Maybe you don’t reward your top employees, because their work is just what is expected of them, or maybe you do reward them. Either way, it is important to consider how the reward you give (or should give!) to your top employees may impact others at your company, and hopefully incent them to work harder so they too can achieve these rewards. Oftentimes a company that is further along in its development potentially having gone through secure small business funding at an earlier stage to grow, they are more secure and will look at financial rewards. This is the most obvious option, but while money is certainly an incentive that will turn heads, there are also ways to reward employees that will make other people in your firm sit up and take notice.
Here are three ideas:
* When you are running either a company-wide meeting or departmental meeting, why not recognize your top performers verbally, thank them for a job well done, and shake their hand. People like recognition, and the other people sitting in the room that were not recognized may strive to gain that recognition at future meetings.
* Time-off is so valuable to employees. Why not recognize your top-performers either with a ½ day off, or a whole day if you are feeling very generous and your company makeup can allow for it? Even saying at 3:00pm on a Friday, “hey you did such a good job on “x” go ahead and start your weekend early” will make a difference. This will surely gain the attention of other employees as well. Just make sure if you do something like this, that you stipulate in the future when this will be offered so people aren’t constantly expecting it!
* Putting information in a company newsletter or sending out monthly e-mails that recognize top performers and their specific accomplishments. Again, this is just another form of recognition.
When choosing ways to recognize people at your company, always remember to keep in mind that rewarding one employee will open the eyes of the others, and have them strive to achieve that same reward. So give some thought as to what would work best for you, your company, and your employees and go ahead and get started!