Recognising Employees: 5 Reasons You Should Implement a Rewards Program
According to a survey, 37% of employees thought employee recognition was imperative. Many businesses, big or small, are now recognising the importance of rewarding employees as a way to show appreciation for their hard work. However, there are still many that have yet to implement it.
If you have been debating whether to have an employee reward program, let’s see a few reasons you should!
1. Show Appreciation
Employee satisfaction isn’t possible if there isn’t some way to express to them that their hard work is appreciated. Also, it’s imperative they know they are seen and heard by the company. They feel valued and happy employees will want to work even better, stay with the company, and watch it succeed.
2. Improves Employee Loyalty
According to Harvard Business Review, a rewards program boosts loyalty. Happy employees are loyal employees. Employees who have their efforts recognised and rewarded have a lower chance of jumping ship and joining a competitor business.
A survey found that 68% of HR professionals positively impacted employee retention after implementing a reward program. This also contributes to the long-term success of the company.
3. Improves Productivity
Nobody wants to work in a place where your efforts aren’t appreciated. This eventually harms the business as well. Reward programs help the employees become more engaged in their work and become more productive.
4. Encourage Friendly Competition
Working as a team is important but so is a little healthy competition. A reward program is a good way to create some friendly rivalry between colleagues. This also gives them a sense of accomplishment when they reach the top and encourages others to become a top performer as well. You can use promotional items for this as well.
5. Create a Positive Work Environment
Employees that are motivated and satisfied aren’t only more productive but are also more positive and enthusiastic. Company culture is an integral component of a successful company. The employee’s positive behaviour also spreads to other employees leading to more employees feeling fulfilled.
Through rewards and recognitions, more engagement, better satisfaction, higher motivation to work harder, and collaboration are encouraged. These work together to create a work environment your employees won’t dread coming to.
Boost Employee Morale with GoPromote
If you’re looking to install a rewards program and don’t know how to start, take baby steps. Giving away vacations and large bonuses isn’t always possible. Try using business gifts first! Even a little bit can go a long way.
GoPromote offers custom promotional items online to help other businesses establish their brand and boost sales. Get the complete process done in one place. We’ll also ship your order nationwide. They offer custom notebooks australia, promotional drink bottles, promotional tote bags, and much more.
Contact us and start appreciating your employees more!