Reasons to Reward Employees

Most adults spend a substantial portion of their lives at work. In light of how much time and effort people pour into their jobs, it’s only fair that employers take notice and reward them accordingly. While honoring every member of your workforce on a daily basis may not be particularly practical or cost-effective, there are a number of reasons for businesses to provide periodic rewards. In the absence of recognition, many workers won’t hesitate to leave their jobs for greener pastures the instant the opportunity presents itself. Businesses that are still on the fence about rewarding top talent should consider the following arguments.

Morale and Motivation

It isn’t hard to see why morale and motivation are on the wane in many modern-day workplaces. When employees go long periods of time without anything to show for their efforts, their job performance tends to stagnate. After all, if the end result is guaranteed to be the same, why should they expend any additional energy on their employer’s behalf? It doesn’t take long for a once enthusiastic employee to become jaded and lose any passion they once had for their job. Unsurprisingly, businesses that are lacking in morale and awash in cynicism can be emotionally-draining places to work. To prevent this fate from befalling your employees –and your workplace – don’t be stingy with praise or executive gifts.

Talent Retention

There are countless reasons for which people leave jobs. While many people quit their jobs out of a desire to relocate or simply begin a new chapter in their lives, a sizable percentage of employees vacate their positions due to a lack of recognition or tangible rewards for their efforts. For example, if someone has excelled in a position for years without receiving a promotion or pay raise, they’re liable to think there’s no room for growth with that employer. Furthermore, if they feel as is their efforts will never be properly recognized, there’s little reason for them to remain with their current employer if another opportunity comes along. As such, any business that wishes to prevent top talent from being poached should be open to providing periodic raises and promoting from within.

Creating a Better Workplace

If your business doesn’t regularly reward employees or make efforts to acknowledge their hard work, your workforce is unlikely to go above and beyond the call of duty. Working environments in which people feel perpetually unrecognized and believe there’s no room for advancement are dreary, depressing places. Instead of being enthusiastic about the day ahead, employees feel as if they’re reporting to a prison each morning. Needless to say, this type of atmosphere is hardly conducive to productivity, employee happiness or worker retention. You wouldn’t want to work in this type of environment – and there’s no reason your team members should.

No one likes feeling invisible, particularly at work. If people feel as if their dedication and hard work count for nothing, they have little reason to put their best foot forward in service of their employer. Fortunately, making members of your workforce feel valued isn’t nearly as daunting as one may think.