Rewarding employees can make or break a company. Hard work and dedication is essentially what employers expect. However, the failure to acknowledge hard work can quickly result in low morale and a hostile environment, and this could ultimately break a company. In order to prevent this, companies must do a better job at recognizing and rewarding their employees for the work they do.
New Brunswick Business Journal contributor Sara Ritchie makes a valid point when she says, “even for the things we do willingly, people still want to feel like their efforts are appreciated.” Acknowledging workers for going above and beyond puts the pressure on other employees to go above and beyond. Showing such appreciation demonstrates a company that values a good work ethic.
According to Ritchie, “employees need to feel like they are making a difference in the organization, and by not demonstrating appreciation for employees' contributions, your organization risks disenfranchising employees from the very job they were hired to do.”
In the efforts to create a more positive workplace, it is crucial for companies to put in place the most effective incentive program that best suits the company and at the same time tackles the job of emphasizing employee motivation and satisfaction. The key to all of this is simple; providing sufficient rewards that hold value to the employees. Acknowledging employees for their hard work and rewarding them with tangible non-monetary incentives will undoubtedly motivate employees and create lasting results.