Rewarding Your Employees Need Not Break The Bank
By Sonya Buck, AgCareers.com Australia
As a business owner or your organisations leader your role may be key, but it’s also important to recognise without productive and happy employees, your business may not be successful or achieve its’ goals in the future.
As an employer we’ve all experienced different levels of staff performance. Let’s face it, performance of staff can range from below average to outstanding.
Underperformance issues aside, it’s very important to recognise those employees who have exceeded expectations to ensure they know they are valued, appreciated and continue to maintain a high level of enthusiasm.
As an employee, there is nothing more demotivating than not being thanked or recognised and being treated the just like those who put in little effort.
Being a busy owner/manager or leader it’s true you have to keep a close eye on all kinds of expenditure, but rewarding your staff need not break the bank. You may wish to consider one or more of these ways to recognise your staff who stand out:
It’s important to get buy in from your staff if you introduce a formal incentive scheme, so make sure you communicate the scheme well. If the budget is tight, make sure you let your employees know and tell them you wanted to ensure they received recognition for their work anyway.
Still wondering about the expense of running a staff incentive scheme? The cost to you if your employees are dissatisfied and leave includes recruiting, training and the reduction in productivity really impacts your bottom line.
Remember in a recent survey by Forbes Magazine, the top reason for happiness in the workplace was appreciation for the work performed – say no more!