The Advantages of Rewarding Your Employees for Excellent Work
Employees who have diligently served an organization will appreciate it when their company recognizes his efforts to accomplish thing with their co-workers.
Recognizing the contributions employees make to an organization helps solidify the company’s awareness and affirmation of something which a company holds as valuable and highly priced. Besides, as the saying goes: though we are wired differently, and not every social style needs public recognition, but even the most introverted person will appreciate being recognized for a job well done.
When an employee is appreciated at work, especially if there is a tangible reward for it, then the employee’s engagement is encouraged and it boosts his productivity since it follows that an engaged employee is more productive that an employee who is not.
Therefore, if a company makes an effort to praised and then award a job well done, it not only makes sense that an employee will be motivated to perform better but that even other members at work will also endeavor to work hard to also receive one for themselves. So if any company aims to foster employees’ engagement this way, then they cannot go wrong.
A company that expresses its sympathetic support to the efforts of its employees also helps solidify employee retention. And this is a big issue because a high staff turnover leads to poor morale that can make others want to look elsewhere. The value to retain an employee is less difficult than the effort that needs to be exerted to find a replacement and the training that goes with it. You will spend time and money on looking for new employees and training them than simply rewarding employees that are good.
Also, if your employees are engaged with your business, they will be able to promote and sell your brand far better than someone who does not believe in or care about it. By rewarding hard work, it no doubt would foster employee engagement and loyalty to the organization.
It must also be remembered that when we speak of output or productivity, it does not only mirror out the effort of the pacemaker or its leader, it also portrays that there has been a peer-to-peer cooperation that rest underneath it. So you don’t only recognize the people on top but even the efforts of the people behind the leaders should be distinguished and recognized. It is not about tenure, but the contribution that each one brings for the success of the team. There is a great team that excludes mediocre workers. Working alongside each other is possible when this type of team is rewarded accordingly. This is the essence of team culture.
Another Source: imp source