Which is the Best Way to Reward Your Employees?

A great leader appreciates his or her team in the best way possible. Working with a team leader, supervisor or boss who appreciates you rather than the one who demonstrates hatred in every possible way makes employees look forward to another day at work. Appreciation is the reason why some employees are willing to go above and beyond their call of duty and it reduces work conflicts. What this means is that you could be trying every possible move or method appreciation to create the best team.

But, are you using the most effective rewards strategy? Are you pushing away your employees instead of pulling them closer? Which strategies work better than the others? And which rewarding strategies work best for your business?

Autonomy

Micromanagement is a buzz kill, or a productivity dampener, in this case. It is the bite that could easily suck away all the creativity and inspiration from your team, the one thing that makes your employees feel revolted every time you walk in the room. Micromanagement sabotages productivity, and it could be the reason why your team is not meeting its targets on matters regarding the voluntary disclosure programs.

Wondering what you should do instead? Well, practice autonomy. Autonomy is the biggest reward your employees need, and if asked what they want the most, they will say that they want to run things on their own. In as much as this is the toughest call you will make in your life and as the boss, giving your employees the green light and wholeheartedly letting someone run with an idea or a project could easily be the best tactic to start winning.

If your employees know that they don’t have to wait for your final call they can do their best just to make sure that the projects they are working on succeed, they will surprise you. The best part is that you no longer have to oversee every little thing in the office and this saves you a lot more time, and it lowers stress.

Through autonomy, people feel valued; the negative emotions dissipate, jobs become more attractive, and it also boosts loyalty in the workplace. It also boosts, and it drives accountability by creating a sense of belonging – something most, if not all employees search for endlessly.

Giving tangible rewards

Nothing says thank you better than a physical reward. And knowing that a big fat check awaits at the end of the year when you meet your targets in time, or that you will get a holiday getaway for working as hard as you could, then you will be motivated to work harder.

Other tangible rewards include stock options, bonuses, salary increases, birthday recognitions, healthy food options, office upgrades, and employee benefits like improved insurance and paid time off.

Development opportunities

One of the most effective ways of rewarding your employees and making them feel appreciated is by coming up with opportunities for professional development. This is crucial because most employees quit or seek greener pastures because of the lack of development. You should, therefore, offer development opportunities, training programs, as well as mentorship for your employees to get that sense of belonging as well as the feeling of self-development.

You might want to offer learning, training, and educational opportunities through certification, training, or higher learning. With several platforms, including LinkedIn offering courses to employees all year round, you might want to give your best performers the opportunity to learn new skills.

Time

Nothing says ‘Thank you’ better than a week of paid vacation? And if you cannot afford that yet, you could offer your employees flexible working schedules.

Praise

A simple ‘thank you,’ or ‘thanks’ goes a long way in boosting employee morale. So, praise and say thank you as much as you can, regardless of your position at work.

Keep in mind that your employees will want to make an impact at a workplace where they feel appreciated and where they feel that their output matters. Finally, you could throw in some team building activities and create a healthy working environment.

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