by Cindy Mielke, Vice President of Strategic Partners at Tango
Every company’s journey to success looks different. However, a common thread among all well-established brands is their ability to create highly dedicated and enthusiastic teams.
Being able to trust employees to stay motivated every day is an essential element for ensuring smoother operations and happier customers. But creating a company culture like this isn’t something that happens organically. It takes real effort.
One way to help set the right tone with your team is to implement a reward program. These types of programs can be a powerful way to increase employee motivation and engagement while showing them that you truly appreciate all of their contributions.
Why Rewards Are Impactful for Employees
When you create a reward program for your business, it becomes a tangible demonstration that your business truly values its employee’s hard work and dedication. The rewards provided end up becoming powerful motivators, often leading to more productivity and a more engaged and satisfied workforce.
Although businesses may think a simple “thank you” or other words of recognition are good enough when you;re able to include a more physical expression of that gratitude, it can go a long way with employees. It shows to them that they’re worth your investment and the extra expression of gratitude results in a more powerful statement from the company.
Should You Give Rewards Only During Certain Times of Year?
There’s no specific date businesses should limit their employee rewards to. Certain moments can be more impactful than others. For example, if an employee really steps up and exceed the expectations of management, this can be a great opportunity to reinforce that behavior.
Rewards are also a great way to celebrate specific milestones that are hit — whether that be years of service, completing an important company project, or helping the organization reach its revenue targets.
To maximize the impact of rewards that are given, it’s important to acknowledge any accomplishments quickly after they’re met. This helps an employee feel slighted and creates more inspiration within the team.
Great Incentive Ideas for Your Employees
It doesn’t matter how small or large your company budget is. There are many ways you can start incorporating incentives for your employees and creating a great company culture. Some of the incentives you could consider include:
Additional Pay.
Monetary incentives are appreciated by everyone. Incorporating different incentives tied to performance bonuses or additional commissions can be a great tool that inspires employees to perform at higher levels.
You can incorporate additional pay scales in a variety of different ways, including one-time annual bonuses or by creating a tiered incentive structure Any of these scenarios keep employees more focused r and more active in their roles.
Increased Time Off.
The incentives you provide to employees don’t need to involve the business providing financial rewards. Even offering extra paid time off can be a valuable way to support employees.
Increased time off also improves your employee’s overall physical and mental well-being, which reduces their work-related stress and helps them have a healthier work-life balance.
Gift Card Rewards.
Another versatile reward businesses can offer to employees is gift cards. Gift cards are a more flexible incentive that allows employees to purchase items or services that matter most to them.
Whether they want to dine at their favorite restaurant or shop at their favorite store, choosing to give employees a gift card ensures that all of your employees—regardless of their preferences — feel like they’re getting a high-value incentive.
Opportunities for Career Growth.
Not all businesses may consider classes or certification programs an incentive for employees, but the reality is that providing new opportunities for career growth can be a great motivator.
Whether you offer to partially or fully fund online or in-person career courses, this is a great way to help employees improve their professional resumes and give them a number of new skills.
Create a More Positive Company Culture
Designing a rewards program for employees is a great way to start establishing a working environment that’s built off of recognition and genuine appreciation for all individuals.
Investing in these types of programs provides long-term value that can outweigh the costs to implement and manage — leaving your business with a highly-dedicated team that wants the organization to succeed.
Cindy Mielke is passionate about the incentive industry. In addition to her role as Vice President of Strategic Partners here at Tango, she is a Certified Professional of Incentive Management who proudly serves on two industry boards.
