How to Create an Employee Rewards Program

How to Create an Employee Rewards ProgramHow to Create an Employee Rewards ProgramDoes your staff?know how much you appreciate them? The wrong answer could impact your bottom line.Feeling appreciated is a key indicator of workplace happiness, Robert Half research has found. And that can directly lead to better retention, productivity and engagement among employees. Organizations that fail to recognize employees who exceed expectations risk impacting the quantity and quality of work, and higher turnover.The good news is, employee rewards?programs, when planned intelligently and implemented with care, are endlessly customizable to fit your companys culture.?The better news is, employee appreciation?awards and incentives dont have to cost a lot. The idea and the spirit behind employee recognition?programs - the fact that the?company is?rewarding?team members?who are doing a great job - can be as motivational as the material rewards themselves.Let our guide to recognizing employees sha pe your employee rewards?programs.?Employee rewards program ideasHere are some ways to recognize your team membersOn major work anniversaries - ?After an employees first anniversary, you should make note of anniversaries?divisible by five. Often these benchmarks will come with company benefits, such as more paid time off or scheduled salary increases, but its nice for a manager to remember it, too.?On birthdays - ?A group card is always appropriate, and including a toxikum card to a local restaurant is a nice?idea. Remembering birthdays is a little thing, but it shows that you and the company care about your people. Make a master calendar for your team to keep track of anniversaries and birthdays.When theyve gone above and beyond on a project - After youve wrapped up a stressful work period, take a moment to reflect if any of your employees went the extra mile. Recognizing that hard work lets people?know you appreciate them?- and is an incentive for them to continue?their top perf ormance.?When theyve been nominated by a colleague - ?Recognition doesnt have to come from the top. You could set up an employee rewards program for your company where staff members?nominate a colleague whos been especially helpful each month and recognize?one of them.In an annual review - Keep track of great performance all year round so?during the?annual review you can?offer?specific examples of?when the employee excelled.?Competitive compensation packages are key to effective employee rewards programs. Use our Salary Calculator to check employee salariesGO TO SALARY CALCULATOREmployee rewards program gift ideasThe award should fit the recipient and the achievement. Heres a list of some?low-cost popular employee recognition program gifts that organizations can considerExtra time off - whether extra personal?days, longer lunches or early departuresA note or letter of appreciation from their manager,?the division or company president,?or from a customer who shared praiseDinner for two at a local restaurant, or a group lunch for an outstanding departmentA gift card for their?favorite coffee shopA designated employee-of-the-month prime parking spotSelect a gift from a catalog or from a prize boxAn all-staff email to recognize the top performerA photo and brief article in the company newsletter or social mediaA press release to the local newspaperPlaques or paperweightsA rotating trophy that is passed around the amtsstube to high-performing individualsSurprise treats for the teamCompany-branded?gear (T-shirts, tote bags, travel mugs, etc.)Tickets for a movie?or sports eventPaying for professional membership dues or conference attendanceEmployee rewards program pitfallsYou get the picture now It doesnt take a big budget to recognize high-performing employees. But you do have to do it right. Dont make these mistakes when rewarding?stellar staff membersBeing vague - ?Just telling someone that they did a good job is too generic. Properly give thanks by tying the ac knowledgment back to specific actions so people learn?exactly what they did right and how it helps the company.Waiting too long - ?Award great work while its still fresh in everyones memory?- that way you can provide details in your praise.Recognizing the wrong person - ?Nothings more embarrassing than addressing a card to the wrong person or thanking them for something they didnt even do. Although some workers naturally gravitate toward the limelight, dont forget to also celebrate unsung heroes who help behind the scenes.Offering token gestures - The reward should match the achievement. Dont give an employer a $5 gift card for 20 years of service, and dont give an employee an i-pad just for turning in a report on time.Embarrassing a shy employee - Announcing his or her great work in front of the entire company wont feel like praise, it will feel like torture Some employees might be embarrassed by having to stand up in front of a group and would prefer to be thanked one-on-one ot hers wouldnt mind receiving praise in public. Rely on the direct managers judgment and his or her relationship with the top performer.?Excluding some?employees - Dont design a rewards program that leaves anyone out. If teams have different goals and benchmarks for excellence, create?separate?incentive programs for them.?An employee?rewards?program that?recognizes?team members for their hard work and dedication in a meaningful way will serve as motivation for everyone on the team to do their best work. And thats the greatest reward a manager can ask for.? Tags