If you want to keep the best performing employees in your team, you have to find a way to reward them. Considering their skills and potential, it’s easy to look for other employers. If you can’t make them feel appreciated, they might end up leaving you.
Therefore, if you have the chance, you need to reward employees who did something great for the company. These are some tips to consider.
Don’t wait for a big reward
There’s no need to have a reward like a salary bump to make an employee feel appreciated. Sometimes, a thank you note suffices. Besides, you can express your gratitude for a lot of reasons. There’s no need to wait until an employee achieves something huge for the company before showing how much you appreciate that employee.
When you thank an employee, you need to be specific about what you’re thankful for. The reason is that you want that employee to think that a particular action is correct. It reinforces that action so it could happen again in the future if given a different task. Avoid general expression of gratitude since the employee might even wonder why you’re saying thank you. Don’t assume that your employee already knows what you want to say.
Don’t set a high bar
Avoid waiting for too long before expressing your gratitude to an employee. Setting a high bar could make everyone lose their motivation. You can also create a reward system where you provide specific rewards depending on the level of contribution to the company.
Let everyone know
Apart from monetary rewards, another way to make an employee feel happy is by letting everyone know the achievement. It boosts someone’s morale. It’s like seeing their parents telling everyone how proud they are of their kid. You can announce the performance during a meeting. You can also send an email that everyone can read.
Consider promotions and other tangible rewards
For significant accomplishments, you need to have huge rewards. Your company profited as a result of that accomplishment, and it’s not too much to ask for more significant rewards. A salary bump or a promotion would be a good idea. You can also consider giving the employee a scholarship. It’s costly, but it boosts the knowledge of that person which could also help improve the business in the long run.
Everyone deserves a reward
Aside from specific rewards you give to employees who have excelled, you can also consider rewarding everyone. Besides, most of the time, businesses succeed because of teamwork. You don’t need to hand out cash to each employee, but you can organize an event that will benefit everyone. Fairground rides for hire would be a perfect opportunity. It’s a relaxing day for each employee and a chance to get out of their routine. The employees can also bring their family members with them, making it even more memorable for them.
Whenever there is a chance to reward a job well done, you need to consider it.