We’re just coming off “the most wonderful time of the year”…but Rewards don’t always have to come just during the holidays and new year! Rewards can come in many different forms and serve many different purposes:
- Something given in return: something desirable given in return for what someone has done
- Money offered in return: money offered as a reward
- Benefit received: a benefit obtained as a result of an action taken or a job done
- Something reinforcing desired behavior: something positive that follows a desired response and acts to encourage desired behavior
Rewards can come in many different forms. Before you give a reward, it’s helpful to know the following:
1. What is being rewarded? Specifically state the behavior or result that is being rewarded.
2. Why is it important? How does it help the business achieve its goals, financial metrics or other key performance indicators?
3. What result(s) did the behavior produce? Cost savings, customer satisfaction, process improvement, etc. You want to quantify it so the positive behavior can be replicated!
There are lots of different ways to reward positive behavior:
- Cash awards: Money is obviously the most readily used. Also consider gift cards, cafeteria “free lunch” certificates or giving a charitable donation in an employee’s name.
- Non-cash awards: A handwritten thank you note, recognition at a company meeting, peer recognition or a company “wall of fame” are ways to recognize employees.
Regardless of the reward vehicle you use, but sure to:
- Be timely: Recognize the positive behavior when it happens, not 3 weeks later!
- Reward consistently: Be sure to recognize big and little accomplishments…but do so proportionately. A major cost savings may justify a cash reward, but solving a minor problem on the fly, may just require a “thank you”
- Be sensitive: If the employee you want to recognize is shy or quiet, reward them quietly, not in the company meeting! Respect the employee’s style and preferences by recognizing them in a way they will feel comfortable. You certainly don’t want to minimize their positive behavior by making them uncomfortable.
What is your Company doing to reward employees?