The Advantages of Rewarding Your Employees for Excellent Work
It is just natural for an employee and his co-workers doing some really excellent job for a company to be recognized for their efforts.
If a company recognizes the contributions made by its employees, it will help solidify the company’s awareness and affirmation of that which they hold valuable and highly prized. People are wired differently and public recognition is not warranted for every social style, yet even the most introverted person will appreciate being appreciated for a job well done.
In response to being appreciated at work, and especially when it is expressed through a meritorious emblem, it fosters an employee’s engagement and therefore boosts his productivity since an engaged employee is significantly more productive than an employee who is defused.
So if there are company efforts to praise and reward jobs that are well done, it not only helps motivate the employee to perform better, it also affects the other workers to work harder so that they, too, will receive one for themselves. There is nothing wrong with encouraging an employee’s engagement in this manner.
Another results of companies expressing support for the efforts of their employees help the company in employee retention. And this is a big issue because a high staff turnover leads to poor morale that can make others want to look elsewhere. Employee retention is much easier than looking for new replacements and training them for the job. The time required to find and train a new employee also affects utilization and inflate the company’s fiscal cost.
The brand of your business can easily be promoted by employees who are deeply engaged with the business rather than people who could care less about what happens to the company. Employee engagement and loyalty to the organization can be achieved by rewarding hard work.
When a business has great output or is very productive, it does not only show the effort of the team leader but it shows that there is a peer-to-peer cooperation with the members of the team. Therefore the need to also distinguish and recognize the people behind the effort is just as important. It is not about tenure, but the contribution that each one brings for the success of the team. Therefore teams are well placed that excludes the mediocre worker. And when this type of team is rewarded accordingly, they can work alongside each other every day. This is the essence of team culture.