An organisation wants a productive workforce, and employees want to be recognised for the efforts they invest. Increasing productivity involves how to incentivize employee performance. "Rewards & Recognition" program is one way of increasing employee productivity.
According to Inc., an average worker is productive for a total of 2 hours and 53 minutes out of 8 hours a day. Most of the employees are productive for only 37% of the day. Rewarding an employee for a job well done inspires them to work harder.
We will take a closer look at how companies can structure and implement a comprehensive reward and recognition program that increases long-term employee productivity.
Ensure Employees Know How To Earn Rewards: Employees who are left in the dark on selection criteria may perceive unfairness or bias when recipients are announced. They depict the process by which rewards and recognition are distributed (e:g which employees are eligible, who will receive what, who the decision-makers are), etc.
Employees who understand what they’re working towards are more likely to boost their performance. For example, if your company is launching a rewards-based wellness program, make sure your employees understand what they need to do to earn a reward with this program, whether it’s by going to the doctor, running five miles, or attending an event with coworkers, etc. When your employees understand what boxes to check to earn a reward.
Offering Unique Rewards: Offering a variety of unique and valuable rewards can encourage your employees to work harder and smarter. Every workplace has its own unique culture, so what your workforce seeks in a reward program may differ greatly from the wants of other organisation employees. Leaders should magnify the lifecycle of the rewarding process by publicly naming recipients. It’s a way to showcase top performers in a company via email, newsletter, or internal communications platform.
Recognise Small Achievements: Celebrating major wins are important, but a tunnel vision on big accomplishments may distract from recognising all the work that went into the smaller milestones. Smaller milestones are essential for achieving big wins. Your rewards and recognition program should consider offering up praise, perks, and recognition throughout the lifecycle of a project, not just at the finish line. This can make your employees feel supported and motivated at every step and will lead to a boost in productivity.
Create Personalised And Specific Recognition: In the recognition process, a personalised approach helps in better engagement of employees. Personal notes of appreciation and recognition announcements are a vital part of building a productive workplace culture. Try recognising hard-working employees with a personalised touch like a small handwritten letter or one-on-lunch with a member of the executive team. This type of experience will show your employees that you care about them and provide a greater incentive to go above and beyond.
Your employee experience will continue to grow if you hire the right talent and provide them with a challenging and rewarding experience. Tracking the cost-benefit of each reward offered enables your company to invest in the incentives that impact employee productivity. The workforce will contribute to organisational goals without consuming too much of your budget.
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