You should devise an employee reward system for your business because the reward system should motivate employees to perform at their highest level and improve employee performance. There is no right or wrong system. Ask for data from your employee to help you create a system that works for you. Job security and opportunities for advancement encourage employees to take pride in their work.
How were you’re employee’s feel the last time you told them what a great job you were doing?
You must know employee’s feel that when they improve performance you reward and motivate them. Recognition makes people feel really good about themselves. It also motivates employees to keep up the good work. Positive support sets an example for everyone in your company, showing them the kind of work you value most.
Trying to increase employee motivation using rewards can sometimes be a daunting task for managers but they can be experts at enhancing motivation using rewards.
Ensure that employees view the rewards as deserving of the work. Including employees in the reward program, the construction process is critical to ensuring that they value the rewards and see them as worth the effort. Managers should value employee input and select rewards accordingly. Employees who see the rewards as worth the effort will be more motivated to work hard to obtain them.
So your reward must be it as attainable in order for them to engage in the necessary effort to obtain them. Check-in with employees to ensure that they believe the rewards are within their reach. Also, providing the employees with a dashboard where they can view their performance in real-time will allow them to accurately assess their own performance and have realistic expectations for rewards.
Also, more small companies use team structures to reach their goals, many managers look for ways to reward collaboration between departments and employees. A reward program which recognizes individual achievements in addition to team performance can provide extra incentive for employees and improve employee performance.
The reward system must be based on recognition. Recognition can take a variety of forms. Structured programs can include regular recognition events such as banquets or breakfasts, an employee of the month or year recognition, an annual report or yearbook which features the accomplishments of employees, and department or company recognition boards. Informal or spontaneous recognition can take the form of privileges such as working at home, starting late/leaving early, or long lunch breaks. A job well done can also be recognized by providing additional support or empowering the employee in ways such as greater choice of assignments, increased authority, or naming the employee as an internal consultant to other staff. Symbolic recognition such as plaques or coffee mugs with inscriptions can also be effective, provided they reflect a sincere appreciation for hard work. These latter expressions of thanks, however, are far more likely to be received positively if the source is a small business owner with limited financial resources. Employees will look less kindly on owners of thriving businesses who use such inexpensive items as centerpieces of their reward programs.