December 12, 2016 BestCompaniesAZ

Four Creative Ways to Reward Great Employees

Best companies recognize the good work and extra effort of employees. Although most organizations have some kind ofrecognition program in place, often those efforts are not providing the type of recognition that employees find meaningful. Are you recognizing your great employees effectively?

According to a survey by the Society for Human Resource Management (SHRM) only 31% of employees are satisfied with the recognition they receive for doing a good job.  As the economic outlook brightens and job opportunities open up, employees who have spent the last four years counting themselves lucky just to have a job will want more. You will need to make sure your employees continue to be happy working for your company in order to retain them.

In order to boost employee engagement and make your organization a best place to work in the post-recession economy, you should revisit and review your employee recognition program. By figuring out what is working and what it not, and preemptively making changes to the program, you can position your company to be the place people want to work, even when other options are available to them.

Here are four creative ways you can enhance your recognition program and ensure your employees feel appreciated and valued.

  1. Flextime

Offering high performers a flexible schedule is a win all the way around.  For the employee, a flexible schedule allows them to align their work schedule to their home life, reducing stress; flexibility demonstrates that the company is committed to work-life balance. By offering flexibility, managers demonstrate trust and respect for employees. Reducing the amount of lost work time and improving morale without having to spend any money makes flextime a no-brainer.

  1. Celebrations

According to the SHRM survey, the number of years an employee has been with the company is the most common type of recognition handed out across all recognition programs. In addition to recognizing loyalty and longevity, celebrating successes large and small can re-connect employees to the mission and vision of the company.

  1. Gold Stars

Everyone had some version of the gold star for good work during their younger years. As adults, that type of individual recognition is just as important as it was in grade school. Having a star of the week that gets to display a special trophy on their desk all week may seem silly or even childish, but we are all as invested in getting that gold star now as we were when we were six. You can reward small wins with things like a choice parking space for a week, a free lunch, or an early start to their weekend.

  1. Two Little Words

We often underestimate the value of a simple “thank you”. Managers show respect for employees when they express appreciation, even for deeds that are part of an employee’s normal duties. Thank you for staying late to finish that project. Thank you for finding that error before the order went to the customer. Thank you for being on time today despite the inclement weather. Most managers and executives don’t realize how powerful those two words are in terms of making employees feel appreciated and recognized.

Whether you offer a great parking space for a month or bring in cupcakes to celebrate a special event, it is important to reward your employees regularly for little things and for more than just sticking around for a long time. When employees feel that the company appreciates the work they do and values their contributions, they are more positive, more productive, and more likely to remain with the company long enough to get one of those years of service awards.

Related Articles: