Rewarding a good team is good for everyone.
In today’s red-hot hiring environment, employee recognition is more than a buzzword. For the savvy manager, a well-executed employee rewards and recognition program is part of a successful retention and hiring strategy.
In the past, with most employees working from the office, a preferred parking spot or team lunch might have been popular go-to awards. Today, with much of the labour force in a hybrid work arrangement, other rewards may be more attractive. Showing appreciation for a job well done doesn’t have to be costly or complicated. Check out the 10 tips we link to below for our rewards and recognition ideas.
10 key employee rewards and recognition ideas to retain a hybrid workforce
From holding virtual celebrations to awarding some extra time off or providing tuition assistance, here are ways you can show your staff that you value them, regardless of their location.
Better employee rewards and recognition: It benefits everyone — and your bottom line
An employee rewards and recognition program goes a long way toward improving hiring and retention. It makes your team members feel good, enables you to show your staff that you value them and appreciate their hard work. All that can lead to greater productivity, energize innovative thinking and instill a stronger sense of loyalty. And it can enhance your company’s reputation, boosting your efforts to recruit top talent. Really, an employee rewards and recognition program is a win-win for both the worker and employer.
- Increase motivation — When staff members know they’ll be rewarded for their performance, they’ll show more enthusiasm, take more initiative and be more productive.
- Improve team cohesion — When employees learn of their coworkers’ wins, they want to congratulate them, building a positive culture where others strive to support each other’s successes.
- Nurture company engagement — Recognition programs foster a deeper sense of employee belonging and connection with the company. Employees see that their contributions really matter and make a difference.
- Improve customer satisfaction and loyalty — Customers enjoy doing business with a company that has committed, passionate employees.
When to recognize employees
Offer recognition after important projects have been successfully completed or when a worker consistently goes above and beyond. Timing is everything, so don’t wait too long — celebrate employee achievements while the details are fresh in everyone’s mind. Key career or personal milestones, such as work anniversaries and annual performance reviews, are also times to highlight an employee’s good work and major accomplishments.
How to spread the recognition
While it’s important to praise good work, take care not to single out the same people every time. Your rewards program should be inclusive, giving recognition to all involved in team or joint efforts.