An employee is an investment that goes beyond just a paycheck. Businesses put time and money into training, continuing education and benefits. When you see that investment paying off, offering a reward helps keep the momentum going. A pat on the back is encouraging, but may not go quite far enough. Giving top performers a little something extra like a bonus, the ability to create their own schedule, or a commemorative item will motivate the entire staff.
The old phrase “cash is king” is true in the workplace. Nothing says “great job” quite like money. Adding a bonus to the paycheck of an employee that stands out will mean more than just about any other reward available. It is the one thing most likely to make an impression as long as the reward fits the accomplishment. A small raise or bonus may seem hardly worth the effort to this hard worker. It will cost you some but pay off by improving morale and giving other employees something to strive for when they work.
Make Your Own Schedule
An employee reward system doesn’t always have to be monetary. Scheduling is often a point of contention among staff in hourly positions. Letting the top performers pick their own shifts may be more beneficial than even a cash bonus. This prize allows the winner to set his or her own days off for a designated period such as a week or a month. It may also include letting this person pick a specific start time.
Lapel pins can designate years of service, top salesperson, employee of the month or certify completion of a training level. This reward system is found in some of the most well-known corporations around such as Walt Disney World and Darden Restaurants. These businesses use custom-made pins to mark anniversaries and other performance milestones for staff members.
The coins system has been in play since World War I. Soldiers would carry customized medallions in their pockets to represent their unit. The practice now extends past the military into the business sector, as well. Companies get coins struck with an insignia or emblem that represents the reward. For example, top sales for the quarter might get a bronze coin that commemorates this achievement.
The detail on challenge coins makes it distinctive. They come with messages engraved around the edges or across the face. A company could create a new coin for each level of service.
Rewarding an employee is a smart way to help inspire the entire workforce. Competition breeds success. People working towards something will fight harder to get there. Setting up a prize program is one way businesses can create winning momentum.
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For more writing by Jillian Johnson follow her @MissWritey.