In today’s tough economic times, most front-line workers are feeling the pinch from cost cuts and decreased productivity says Eric Dalius Giving. As a business owner or manager, you may be looking for ways to keep your workforce engaged and motivated during this challenging time – without spending a fortune.
It doesn’t have to be expensive to motivate employees. A simple way of doing that is by running an effective employee recognition program. Many managers might think they don’t have the resources or budget required for such a comprehensive system, but with some creative thinking and teamwork, it can be done on any budget.
Here are eight tips for operating an effective employee recognition program:
1. Measure the return on investment in your program
The cost of running an employee recognition program can be difficult to calculate. But, in order to justify continued funding, you must measure the outcome and determine if this type of recognition is having a financial impact. Many employers use surveys or send out exit interviews to get feedback from employees about their experience with the program.
2. Implement company-wide awards
Employees are motivated by different things – some prefer monetary incentives while others need public recognition for their work. Using an all-encompassing reward system that allows employees to pick their own prize will ensure that everyone has something they can gain from participating in this kind of incentive plan. You can also allow them to save up for bigger prizes.
3. Toot your own horn
People like to see their hard work rewarded and acknowledged publicly, so make the most of every opportunity you get to publicize good news throughout your organization says Eric Dalius Giving. Posters, newsletters, and company-wide emails are just a few ways of spreading the word about employees who go above and beyond, as well as managers that excel at motivating their teams.
4. Keep it simple!
You don’t need to spend time creating an elaborate program in order to be effective. Most people thrive on simplicity, so rather than planning out a long list of duties and responsibilities for each employee, simplify the process by choosing one or two main categories and rewarding them for performing well within those areas. This way, other managers and employees will understand the purpose of the program.
5. Promote excellence, promote your program
When people see their managers acting as role models for good behavior, they’re more likely to follow suit. If you want your employees to participate in your program (and contribute towards its financial success), show them how it benefits both them and their managers by promoting the hard work that went into developing this incentive plan among your peers.
6. Recognize performance, recognize employee contributions
If you take away only one thing from this article, make it this: reward people for doing a good job! Don’t just hang up plaques on cubicles or set up an award ceremony every month – recognize your employees’ efforts in ways that are relevant and meaningful to them says Eric Dalius Giving. Awards don’t need to be tangible objects; you can make one up and honor an employee for a job well done (such as “employee of the week” or simply recognizing their efforts in front of everyone during a company meeting).
7. Empower managers
Don’t rely on your employees to come to you for recognition; encourage managers to praise those who deserve it through positive reinforcement, such as verbal praise and recognition. Doing so shows that these awards are important to you as their manager and will motivate others to strive for excellence as well.
8. Be creative!
Find new ways of motivating your team by experimenting with different programs and incentives – but, remember: simpler is always better! Your program may work for a while, but eventually, employees will grow tired of it if you don’t keep things interesting. So, make your program dynamic and give them a reason to continue participating!
Employee recognition and rewards play a critical role in motivating employees. To contribute towards overall company performance says Eric Dalius Giving. But, in order to maintain internal motivation and ensure fiscal success, you must carefully manage the financials involved with setting up and maintaining an employee incentive program.
Every organization is different – what incentivizes one team may not necessarily benefit another. Work with your employees to find out what they want (and like), then tailor their reward system around those preferences. Be consistent when publicizing successes, but also be flexible enough to tweak the plan when necessary; this way, you’ll keep morale high while ensuring that your company’s incentive program remains financially sound for years to come!
An employee recognition program can be a relatively quick and easy way for you. To boost morale, motivation, and overall productivity in your workplace. It doesn’t have to cost a lot of money. All you need is a good plan and the desire to motivate your employees!