Many companies deal with employee resignations throughout the year. When employees feel burnt out or demotivated, they fall short of in terms of performance. Dissatisfaction follows and pursuit of a different company starts.
While employers cannot hold an employee to stay, there are ways to keep them motivated and willing to stay. One of the proven ways is through a rewards system. Here are some ideas:
Additional paid leaves on top of what is required by law
Paid leaves like maternity/paternity leaves and vacation leaves as afforded by law are enjoyed by employees. Upon employment, this is already common knowledge by employees. However, to ensure that the employees want to stay, there are different perks that companies should offer. One example is a set of additional paid leaves on top of what is expected.
For instance, should an employee exceeds expected performance, their efforts can be rewarded with additional paid leaves. In turn, the idea will make the employee wanting to always perform more than what is expected to gain this reward.
Vouchers and certificates
Another great reward system is the presentation of certificates and vouchers such as lifestyle rewards and benefits in the UK. These types of vouchers are affiliated with many commercial and retail businesses and are most desired by many employees. The lifestyle rewards offer access to cinemas, restaurants, shopping centers, and more, which makes attaining this reward an exciting one.
Such vouchers/e-certificates can be given as a reward for a deal closed, sales target exceeded, or as a Christmas gift for employees. These vouchers come in different values, such that it can be the same voucher but different value, depending on the employee’s title in your company.
There are companies that are yet to afford the abovementioned reward system schemes. Instead, a form of public recognition can be given. For instance, a monthly meeting can include a portion to recognize employees with good performances. These certificates can be collected and used as leverage for applying for promotions if so desired.
Recognition in the form of certificates will hold value in the future so that the employee will also see the need to obtain it.
Paid out of town trips for the top-performing teams
One of the most exciting forms of reward system is a trip or “R and R” (rest and relaxation) with your team leader and members. This reward can be given when a team is given a goal and such a team has reached and exceeded the goal with exemplary performance. This type of reward will make the team feel valued and appreciated.
The opportunity to enjoy an event because of team effort will further strengthen camaraderie in the workplace and make employees feel motivated. When employees are motivated, they are more productive.
Motivation is the wheel that makes an employee work well. No matter what type of work an individual does, there is a risk of fatigue and lack of motivation. It is the rewards or perks of the company that will make an employee wanting to achieve excellence in their work, which is always best for any business.