What Are The Best And Most Effective Ways Of Giving Rewards To Employees
For every company out there, they need know about the importance of having their own strategic rewards intended for their employees which aims to address these areas as follows – their benefits, their compensations, their appreciation and their recognition as well. The two most common problems that companies are oftentimes facing with regards to their ways of rewarding their employees has something to do with the following: they usually lack one or more of the elements that were mentioned earlier (majority of the time, it is recognitions and appreciation), and; the elements that are addressed normally come out as incoherent with the other corporate strategies of the company.
For you to be able to make sure that you are giving reward to deserving employees in the most appropriate and most effective of ways, you have to see to it that you include recognizing and rewarding two main types of activities they normally do such as their behavior and performance as well. Performance is said to be as the easiest one to address in comparison to behavior since we all know that performance has a clear link between the initial goals that the company has set for the sake of their employees with the final output that the employees provide in the end. There are so many ways on how to effectively and appropriately reward an employee who is also known for being a top sales person as they achieve a particular goal you have set up for them and these are by having an incentive plan or a scheme.
On the other hand, if you are going to reward a certain behavior of your employees who made a difference in your company, you need to bear in mind that doing so is actually more challenging in comparison to rewarding the performance of your employees. However, when it comes to this kind of circumstances, there is nothing for you to actually worry about since there is always a way for you to overcome it such as knowing what really it is that you are compensating your employees for. Was the reason why you are giving compensation to your employees has something to do with their ability to contribute new ideas on how you can possibly complete your work more efficiently and effectively or are you compensating them for being early at work and even staying late at night or oftentimes rendering overtime? Basically speaking, if you are going to reward them for their behavior, there certainly is a need for you to know whether the basis you have in doing so has something to do with the amount of time they spend at their desk or probably them being innovative. Why you need to do this is due to the fact that there is a huge difference between the two.
Source: he has a good point