Which employee rewards boost productivity?
A valued member of a business almost always makes a productive part of the team, but team leaders may find it difficult to demonstrate their appreciation to employees.
Employees love to know that they are valued by their employer. When something special has been achieved, they deserved be to recognised. In turn, employers may find they have a team of committed, productive workers. In the office, there are a few different ways businesses can show their appreciation:
When an employee achieves a task from which the business profits increase, or helps to bring in a new client on their own accord, a remuneration reward is appropriate. The 2013 Kelly Global Workforce Index (KGWI), which sampled more than 120,000 workers from 31 countries, found 59 per cent of employees in the Asia/Pacific region have performance targets attached to their pay.
Having this initiative shows employees they have been responsible for that money coming into the business and that they deserve to have a part of it.
Another method of rewarding an employee is through remuneration benefits. This is where the employee receives a benefit for just being an employee of the company. The KGWI said that benefits are crucial for businesses to stay competitive in the market and retain employees.
This could be a subsidised membership of some kind or the ability to drive a work car around during the weekend.
Giving employees with more responsibility in the office is a massive form of reward and a show of trust from the employer. If the employee feels noticed and like a valued part of the team, they will be more motivated to work and to stay with the company. The KGWI noted "[employees] want a degree of control over their own professional development, and they actively seek opportunities to branch out and gain additional responsibility."