Hard working and good employees stay so because they are passionate about their job and because they are rewarded. If an employee doesn’t feel valued at a company, they may leave and find another company who does appreciate the extra mile they go for their career. Rewarding employees ensures they want to stay working for your company, they feel valued and improves staff morale. Here are three ways in which to reward your hard-working employees.

Praise

Of course, employees should be rewarded with more than just praise, but it is a great way to start and can make your employees feel good about themselves. Adding a bonus into their pay check, although a great and welcome surprise, it is not as sincere and meaningful as being praised personally. You may want to start an employee of the month reward in which you and other employees vote, giving reasons why a certain employee has gone above and beyond this month. This can boost teamwork and the general morale of the team and can be a lovely way to end each month’s team meeting. An email may be a nice reminder but speaking to your employees or noticing someone’s extra effort and pointing it out can go a long way. This can also come in the shape of a gift card or a staff discount. If an employee has been having a particularly hard time at home and has still come into work, you may want to reward them with some time off if possible.

Events

A great day or night out can be the perfect way to boost everyone’s spirits, especially if your company has been extremely busy and everyone needs a well-deserved break. It is a great way to get to know your employees and for them to get to know each other more personally, great if you are a relatively new business or have recently joined the company. Not only is it something to look forward to, but it is something not every business gives their employees. Rather than a standard Christmas Party, why not reward your employees out of the blue for smashing that sales target and spurring them on further? The company teamtactics.co.uk offers team building and corporate event days that are great fun for all involved to reward your employees with something totally unexpected.

Promotion

If an employee is going above and beyond, perhaps it is time to reward them with a promotion. There may be a job going that they haven’t applied for or didn’t know about, so offering them the chance of this is a great reward for all their hard work and determination. You may want to try and work at getting your teams pay increased; if they are hard-working and bringing in a lot of profit perhaps you could talk to someone about a pay rise, or if you own your own business and can afford it, increase the pay yourself. Anything extra on an employee’s wage is always appreciated and can ensure they stay motivated in their role. Be sure to keep your wage competitive as if you are not giving your employees the wage they deserve, they may find a better paid role in another company. Offering incentives for hitting sales target is a great way to improve profits and reward your employees hard work too.

However you reward your employees, make sure they feel appreciated in their role and for everything they do to keep your business running smoothly. You do not always have to spend money to make an employee for appreciated, sometimes a reward can come in the shape of a great big thank you.