How do I Recognise/Reward Good Performance? Individually and as a Team?
Assess the Effectiveness of your Reward and Recognition Programmes
"There are two things people want more than sex and money -- recognition and praise." --Mary Kay Ash
Kenneth Kovach of George Mason University undertook a study of 1,000 employees and asked them what motivated them most. The top ten factors in order of importance are listed below:
- Interesting work
- Appreciation of work
- Feeling "in on things"
- Job security
- Good wages
- Good working conditions
- Personal loyalty
- Tactful discipline
- Sympathetic help with problems
In addition to supplying a shared vision and direction, you need to make your people feel important and appreciated. People want to know that you are aware of the value they bring to your business. They want you to recognise their contribution, and give them a fair share of the credit. Celebrate your victories and make your people feel like heroes. Don't save all praise for private sessions; public accolades are important. Build team spirit with celebrations and widespread recognition of both individual and team performance.
Praise, recognition and encouragement need to be constant. Reward and recognition programmes are needed to recognise behaviour that reinforces your business' mission, objectives and strategies.
What are some of the Ways I can Provide Reward and Recognition?
Your reward and recognition programme needs to be multi-layered. Reward and recognition falls into several categories:
- Monetary, receiving dollar incentives for performance;
- Non Monetary, various forms of "soft" recognition;
- Formal, this is typically part of a programme, put in place to exact a specific result;
- Informal or spontaneous.
Many studies identify non monetary recognition as the most effective means to incent employees and reach retention goals. "Recent studies conducted by the Business Research Lab (Hauppauge, N.Y.) have shown that the correlation between the length of time people intend to stay with their current employers and "soft" factors - like recognition given for work well done or pride in the employer - is more statistically significant than the longevity/monetary reward correlation"
Say good morning. Ask people how their weekend turned out. Take an interest in their family. Practicing simple courtesy is a powerful relationship-building tool. Say "please" and "thank you" and "you're doing a good job."
Always give your full attention to the person talking to you. If you can’t pay full attention and listen actively, set a time with the person to meet when you can. You gain much information from the ideas and opinions of others. You make people feel special when you listen to them without distraction.
Personally Congratulate Employees
Say, “We couldn’t have done it without you.” “Your effort meant we met our deadline.” Powerful, positive recognition makes people feel important and encourages your employees to contribute more of the same work in the future.
Put it in Writing
A "thank you" note or card to the employee, with a copy to in their file, magnifies the impact of the recognition.
If you didn't come up with an idea, give credit where credit is due. Say, “Joan came up with this idea and I think it is just the thing to solve our problems" “The credit belongs to John. Isn’t that a terrific idea?”
Some businesses set up a Rave Program. At every meeting, they give out Raves, which anybody can nominate somebody for. It's recognition for someone going above and beyond the call of duty, and it usually relates to doing something innovative. There might be a dozen people each week who are recognized with Raves.
Promote on the Basis of Performance
Hold morale-building meetings to celebrate successes.
These can include bonuses, tickets to a movie, dinner voucher for dinner, trip, or award.
Keep your Commitments
If you have a meeting set up for Tuesday, attend the meeting. Cancellation should not occur except in a true emergency. Promised Pat a raise? Don?t do it unless you know you can keep your promise.
Get in Touch with Jump
If you need help, or you answered no or unsure to any of the questions in the assessment tool, then Jump Business Solutions can help you. Phone us on +64 6 754 8987 or +64 27 450 5271 or email email@example.com and Jump will come to you, discover your needs, and develop a solution that will create real, long-term and positive change for you and your business.
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