How to recognise and reward employees | Excelerated Business Solutions

How to recognise and reward employees

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What are some of the unique and fun ways to recognise employees? In this video, I explore some of the more unconventional ways of rewarding them.

There is a consensus on the importance of rewarding or recognising employees who do exceptionally great work. The rationale is that if you reward them, they will be motivated to continue doing great work.

The contention on this belief arises when we talk about finding the right rewards. As business owners, we want to make sure that we are generous enough to make the employee feel appreciated but not too much for everyone to expect that all exceptional work should be rewarded, even if such is a regular call of duty. We also consider our financial ability to sustain such rewards. It can’t be too generous that it affects the bottom line. Ideally, it should be simple and easy to implement—and one that can be sustained for many years to come.

Best of all, we should be transparent and have firm guidelines on who is eligible for these rewards, so that everyone feels that they have a fair chance of being a recipient and that we are not playing any favourites.

Note, however, that not all policies or rewards that aim to motivate behaviour work as well as one plans it to be. In my video, How an employee reward system can curtail productivity, I explored how one well-meaning employee rewards policy led to a decline in productivity. The key is to understand that employees are best motivated when the rewards are aligned with their internal motivation, just as I discuss in my video How to motivate employees the right way.

I’ve worked with business owners who struggle to come up with the proper incentives to motivate their employees. They are usually too busy with the business to think clearly about how to reward exceptional behaviour. But what they fail to realise is that their employees are one of the reasons for their business’s success. Ignoring their contribution may lead to demotivation and to employees doing only the bare minimum. This, in turn, can impact the morale and productivity of the team.

Here are some simple employee rewards that I’ve discovered align with internal motivation and are simple to do:

  1. Kudos Board! Perhaps the simplest but one of the most effective recognition programs. Managers, team members or even clients can give feedback about someone they feel who did exceptional work. This can be published either in the organisation’s bulletin board or social media for everyone to see. It’s good because employees are publicly recognised, at the same time, it gives other employees concrete examples of exceptional work that they can model.
  2. Write a simple Thank You note. Sir Richard Branson has been known to do this. It is simple but heartfelt, and lets employees know that you notice their hard work. While it takes time to do and it may be difficult to write the note, this brings more value to your employee than any monetary value. And, it’s a cost-effective measure, too!
  3. Throw a pizza party! This is great especially when you are celebrating not just the achievement of one team member but the collective effort of an entire team. It’s a fun way to build team camaraderie, too!
  4. Give a special perk for a limited time, maybe a paid day off or the opportunity to park at the best spot for a few days. It’s a simple reward but note that selection criteria should be clear and transparent to prevent any indication that you are playing favourites!
  5. Dinner for the family on you! Large corporations have been known to provide this reward. This is to recognise that families also make sacrifices, especially when their family member has been working very hard on a project that has taken time away from them. It also makes an employee feel especially valued because rewards are extended to their family.
  6. Career-based rewards, such as sending employees to out-of-town training classes or even just online classes of their choice.

How about you? How to you recognise and reward your employees?

If you are interested to know more about what a business has to go through when facing exponential growth, you can download the first chapter of the book, ”$20K to $20 Million in 2 Years” absolutely free here. The chapter talks about the differences between a good and a great business and puts out questions that make you consider how you can turn your business from good to great.


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