Rewards and Recognition: 7 Amazing Drives to work hard in 2020

In a fast-paced industry, many businesses are prone to lose their top performers and face an even greater risk of damaging relationships with existing customers. Employees are dissatisfied with their compensation and some even voluntarily leave the company and take a higher paying position with another company. According to survey companies that are the most profitable usually, have the highest employee retention.

So how can a company compel their employees to work harder and also enhance their morale? Here are some 7 amazing drives that can be used to retain and motivate employees to work harder in 2020.

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Pay employees salary and incentives

To increase employee morale and productivity pay a mix of salary and incentives. The regular package of salary provides them with a consistent income. And introducing incentives can motivate them to work harder and exceed their goals. Simultaneously it also allows them to increase their earnings. The incentives package can also be given in a quarterly period as they are more motivating that the annual payouts.

Provide personalized experiences for all ages in your workforce

A company can have distinct generations in the workplace – each with their world view, aptitudes, life experience, and expectations.  Some employees will feel motivated by a bonus in salary, while some of them will need a great work-life balance. Each employees’ needs might be different and to create engaging experiences for your multi-generational workforce will be a daunting task. So, employers will need to add some diligence and get to know the workforce and then provide the best flexible rewards as per the needs of an employee. Get to know some tips from places like Power to Motivate UK on ways to give personalized rewards to your employees.

Use merit criteria to reward top performers

Giving all employees essentially the same merit showcases the wrong gesture towards best achievers. An employer should priorities their star employers by giving them recognized rewards and motivate them to continue this spree in their next phase. Then they should continue to appreciate and recognize the hard work of other employees and motivate them to achieve higher goals. You can award some stars as per their achievements to be modest among all employees and retain them by showing gratitude towards all.

Provide employees with non-financial rewards

Try to motivate your employees by other forms of recognition and rewards. You can establish an annual trip to reward employees or company-sponsored gift vouchers, movie vouchers or a one-month free gym membership to build camaraderie and teamwork. Rewarding them as per their performance can heighten their motivation to keep up the good work. Bonuses paid time off, flexible hours are also some tangible signs of appreciation that help motivate your workers.

Support worker wellbeing

Try to improve the wellness of your employees at work. You can offer subsidized gym membership, provide day care for their infants and ensure to provide mental health support in place. All such simple steps can foster employee’s health and wellbeing through an instilled culture.

Take Time to Train some Management Techniques

With recognizing and rewarding your employees it is essential to harness and train your employees with management techniques. It may seem time-consuming but it will be the best motivating support that one can get from an employer. You need to understand the demands of their job and give all the necessary resources to complete the required tasks and help them to master a skill with proper training. Make sure you’re leading your employees and not simply using them as you need to understand that hiring and training cost much more in resources than retaining happy employees.

Make a positive atmosphere in the workplace

Try to make your workplace job fun for your employees. It is the fundamental duty of an employer to keep their employees happy with personalized motivation. Listen to what they enjoy most about their job and then assign them more work in those areas.  This will inspire them to work even harder and help to take your business to new milestones in 2020.

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