How to Effectively Reward your Employees

In his latest blog, Tim explains how to effectively reward your staff.

By Tim Frear

When we look at our employee engagement strategy and discuss rewards, we instinctively think about how much money, holidays and time off we are giving our employees.

However, as I highlighted in my previous blog, little things like a ‘thank you’ can be effective and powerful in the working environment.

Recently, I have come across employees who have taken time off above that of the business framework, when questioned we always got the same response; they felt they were entitled to take the time.

So how do we align business needs and individual needs to make sure both parties are happy, whilst reducing the feeling of entitlement above what’s offered?

Understanding and communicating entitlement should be done as standard, either by contracts, benefits guides or a benefits statement at the end of the year.

There is always going to be someone who pushes the boundaries so we need to ask them: “What have you done this week for your company and why do you think you deserve more?”.

So as leaders, what can we do to get rid of this sense of entitlement?

Create a culture where working hard will be rewarded.

By aligning the rewards you offer with your team’s values, you can positively influence the team. Linking good hard work to reward can increase morale and productivity, but it must be accompanied with positive and truthful communication.

Don’t be fooled by falling into the trap of giving a reward to increase the performance/motivation of an underperforming employee, as this will be unlikely to work and is technically unofficial bribery – not good!

When you meet employees who push the boundaries, don’t be drawn into negativity as this will just encourage the frustration and might, in their minds, validate their feelings.

Keep up to date with trends.

It’s important to keep up to date with trends in the market and make sure what you’re offering benefits your employees and is cost effective for the business.

It’s worth looking to see if the benefit you’re paying for can be accessed for free through alternative websites, such as wowcher.co.uk.

Make the benefit bespoke to the individual.

This is essential! There are some benefits like healthcare that are standard, however if you want to reward an individual for a small level success, I would recommend offering an experience over cash.

What about a family ticket for the cinema as a thank you for an employee with children? Not only is this thoughtful, but it encourages a healthy work-life balance.

These are just a few of the many things you can offer your employees. For more information, just get in touch!