If you own a business and you have people working for you, you’ll know just how difficult it is to get the balance of caring and corporate just right. You want your staff to do their jobs, but you also want them to feel happy and comfortable at work, so they stay for longer and you don’t have to think about hiring anyone to replace them (which, of course, takes time, effort, and money).
There are many different ways of working you can put into practice that will help you get this balance just right, but one that always works well is the idea of rewarding your staff for a job well done. Not only will others see that you are appreciative of hard work and will therefore work harder to gain their reward, but you will also be showing them that you value them and care for them, making them happier. Here are some of the reasons why rewarding your staff works so well for businesses.
No matter what kind of reward you want to offer a hard-working employee, whether it’s a raise or promotion, tickets to something they love, an extra vacation day or two, or even an actual trophy for ‘employee of the month’, or something that helps them with their jobs, like how Barr-Nunn Transportation is changing the way truck drivers get paid with Shift + Load Pay, those rewards are going to give you a boost in your employees’ productivity.
The team you have in place, knowing about what rewards are on offer, are going to be keen to win them, so they will do what it takes to get a reward. They will work harder, faster, and maybe even go above and beyond what you’re expecting. Your employees will get their rewards, and you’ll get better profits as a result; it has to be worth considering.
Your happiest workers are the most productive workers, and the workers who have the best job satisfaction are the ones who won’t even entertain the thought of leaving to work somewhere else. Rewards can give your employees that feeling of job satisfaction they need to be utterly content while working for you and to provide you with their total loyalty. It’s far easier to retain staff than if it to find new members of your team, especially if the position that needs to be filled is a highly technical one. If all it takes is you acknowledging their excellent work, then it shouldn’t be something you even really need to think about.
As a bonus, workers who have good levels of job satisfaction are great for your business in other ways. They will champion you even when they’re not at work, and others will know you offer a safe, comfortable space to work in with many benefits. If you do need to hire staff, you will get a lot of candidates to choose from.
Finally, we’re going to mention feedback. This is an unusual reason for rewarding your staff, but it can be a beneficial one. If your team knows you appreciate them enough to set up a reward or bonus scheme of some kind for them, they will be confident when it comes to talking to you about the business; this can result in some extremely valuable feedback that can help you make important changes. This feedback might have been kept back if your staff weren’t rewarded and therefore didn’t feel you wanted to hear from them.