Employee satisfaction is a major contributor to a company’s success. There are many ways you can make sure employees feel happy with their office work and are comfortable in your organization. Many companies use performance-based reward systems for this purpose. This ties people’s rewards to certain goals, so it drives up motivation.
However, you need to see how you can implement and promote these systems in your workplace. Your employees need to know how they can avail these rewards, and actually find them worth gaining. So, you need to plan these out well in advance, and announce them at the beginning of each quarter. Ideally, you should announce them when setting quarterly goals. Then, you can go on to encourage your employees to win these rewards. Here are a few ideas to help you.
Send detailed emails
The first thing you need to do is announce your reward system in a company wide email campaign. Then, you can send each department or employee the goals they need to meet to win these rewards. Announce the prizes beforehand, so that your employees have something solid to look forward to.
Use the corporate email templates on PosterMyWall to make these emails, and make sure they look exciting. Make all the details of these reward systems clear, and give solid timelines. This will help streamline the whole process.
Set up peer recognition programs
Involve your employees with peer recognition programs. Let people know they can nominate their colleagues for their performances, and then have them vote on the winners. These programs make people feel part of the process, and will motivate them even more.
They will also improve employee camaraderie and create a friendly workplace environment. So, give a set criteria for who they can nominate, and then use voting systems to pick the top nominees.
Offer professional development opportunities
Tie in employee reward programs with professional development. Enroll select employees in development and learning programs, and score them based on their learning progress. Put a points system in place, and announce that the top three performers will win prizes.
These programs will not only reward good performers, but also advance their careers. In addition, they will help people learn more skills to use at your company. So, this is a win-win situation for everyone.
Host annual award galas
Make the rewards system into a complete event. This will not only make the winners happy, but also give everyone else a day to look forward to. Make it into a whole event and have people dress up for a nice award gala and dinner.
This will also serve as a great way to celebrate all of your employees. Here, you can also have an award ceremony to highlight the top performers. Arrange for some entertainment and catering to make the whole thing a big deal.
Involve customer testimonials
Employees love it when they can directly hear from customers about their good performance. When you take feedback from customers, make sure you add a section where they specifically talk about the employees they worked with.
Then, give said employees access to this praise. They will feel highly appreciated and will be even more motivated to serve future customers well. You can even have customers directly get in touch with their sales representatives and give them positive feedback. All this will motivate your employees.
Give appropriate rewards
Do not be stingy and give your employees company merchandise as a prize. Instead, tailor your rewards according to the performance and person. Personalize your rewards or tie them with company benefits. For example, you can give top performers extra remote work days or an extra day off. You can even include face to face meetings with higher management or a nice lunch with the CEO. However, do include other rewards with this, so that your employees don’t feel shortchanged.
Other appropriate rewards include gift cards for online shops, a nice dinner out, or premium gift baskets. Make sure you don’t skimp on these rewards and make them worth the effort. This way, employees will strive for them year after year.
Take employee feedback
The key to a good performance-based reward system is employee satisfaction. You can’t accurately gauge it if you don’t take their feedback. Take a survey about what sort of rewards your employees want, and what they feel are realistic goals to win these rewards.
Then, see how this feedback fits in with your strategy and requirements. Make sure you don’t have the same expectations from every department. Have different goals and expectations from different teams, and also set the rewards accordingly.
In conclusion, there are many ways to implement and promote a performance-based reward system at your office. Follow these tips and take employee feedback to get the best out fo these programs.