Rewarding staff beyond their usual salary is a great way to improve performance and motivation.
Deciding to put a rewards scheme in place shows a dedication to driving and rewarding the performance of your staff. But what should you keep in mind when trying to implement an employee rewards scheme?
What are you rewarding?
You need to decide what sort of rewards scheme you are going to implement.
Are you going to focus on sales? Customer feedback reviews? Or team performance across one area of your business?
A rewards scheme allows you to provide opportunities to staff in different areas of your business. The key thing is to have measurable targets in place — something for staff to meet or exceed and then be rewarded for.
This allows you to motivate staff and drive their performance beyond usual levels.See how we help motivate employees
Your next step might be to decide on the sorts of rewards you’re going to offer to staff. This can be a difficult choice due to the amount of variety on offer. You need to pick a reward that will excite your teams and be something they desire. This could include:
- Tech such as iPads or phones
- Vouchers for versatile spending
- Experiences such as VIP gig tickets
- Travel such as solo or team trips overseas
Your rewards might relate to the sort of scheme you’re running or the type of business you run. For example, if you’re a technology business you might choose to reward your sales staff with tech prizes or a team trip to a big overseas tradeshow.
Another consideration is how long to run the scheme for. You want to run the scheme for a length of time that doesn’t cause staff to lose interest in the prizes on offer. However, you also need to ensure that you run the scheme for long enough that you generate commercial benefit from it.
How long you run your scheme for isn’t the only timing issue to keep in mind. You also need to think about when within the year your scheme will be active.
For example, you might run a sales incentive alongside a busy period in your business. This can motivate staff further while also taking advantage of the increased business as an additional boost to sales. Your rewards can serve as an additional motivating factor, driving performance across your teams and helping to keep them focussed on delivering the best possible sales experience for your customers.
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Launching the scheme
Your reward scheme needs to be something your staff are aware of. They need to understand how it benefits them, how it works and when it’s active. There might be an online portal or platform they need to use to track their progress or claim rewards, for example. If there is, then you might need to consider training to help staff use it properly.
Staff should be engaged and excited about the possibility of additional rewards for their efforts. Hype days or an event to help launch your rewards scheme can help to provide all the information staff need in a relaxed setting. This also helps to build enthusiasm and interest, and helps motivate staff to perform.
Helping you to recognise and reward your best employees
Recognising the efforts of your staff and rewarding them can help to reduce employee attrition, while improving morale, performance and development. Recognising performance and rewarding effort can be done in any business, regardless of its size or budget.
At CR Worldwide, we can plan, organise and run effective employee recognition programmes that can boost and benefit staff performance across your business. Our employee recognition schemes are:
- Easy to manage – Our programmes offer real-time reporting allowing managers to easily keep track of staff achievements to instantly recognise and reward and reach new goals. A range of exciting rewards can also be selected from a catalogue that we provide.
- Easy to implement – Our recognition schemes can be quickly set up, and easily tailored to suit your staff, their needs and your business goals.
- Easy to use – We provide simple methods to reward your staff’s hard work and achievements in a way that makes them feel valued, improves their performance and enhances their loyalty, while creating an instant emotional bond with your brand.
We’d love to excite, engage and inspire your staff with our employee recognition schemes. To speak to a member of our award-winning team: