Monday 15 July 2024

Importance Of Reward Management

Keeping a good worker at your company sometimes seems like a mission impossible, minus Tom Cruise. With all fluctuation at the market, every of your employees might leave, in case that he or she got the better offer, and if he feels as if not appreciated, probability is even higher. To avoid supplying your competition with great workers, you must reward those who are giving their best. The reasons for that are given in our article.

Importance Of Reward Management


If you let yourself to lose one man because of lack of reward, what do you think, how much time it will pass, until this issue becomes a landslide to your doom? Workers talk during coffee breaks, so do not think that they will be compassionate toward you. Losing one man because of this can start small talk, with the subject of less caring from you, so that is sufficient reason for someone to leave your company. To replace them, you will be forced to take other who might not be so good. In long run, it will not only harm your company, it will ruin it.

Making a difference

If you think that all the bosses are rewarding their employees, you are wrong. There is certainly a CEO who does not care, but his company has a good name and reputation, so he can replace any worker at any time. This is no excuse for you. You wish to make a team, not a company. Team has much stronger bonds, almost like family. Such teems are like chains. Strong as much as their weakest link is. Do not be that link. Be that kind of boss who cares about his workers. “Regard your soldiers as your children, and they will follow you into the deepest valleys. Look on them as your own beloved sons, and they will stand by you even unto death!”. Minus the death part, these quotes from “The Art of War” by Sun Tzu, are your goal.

How to do it?

There are several ways on which you can take this. There is a story about CEO of a huge company which made a glass frame, and put a reward in there, as he settled it at the middle of the office. He also put a sign “In case of hard work, break a glass.” It is huge morality booster for your workers, when they can see literally what was mentioned as a reward. You should know your workers, so you should choose appropriate approach. Some people love when given praise in front of the audience, while other prefer more personal and quiet way to tell them that they are rewarded.

What to give as a reward?

As we said, not all the people are the same. Some are struggling with debts, and are clawing for every cent earned, while others do not have enough time to have a good rest. Consider what it should be, and just in case, tell your employees that they have several items to pick from. To make it more interesting, make true coupons, and give them to your workers. Just be careful though, for if your gift is in financial form, letting them know that it will be delivered with the pay check might be a bit unfair. Instead, take white envelope and put visa gift card inside, for it looks more elegant like this.

To summarize all of the above, the most important thing is to stay consistent. If you promised a reward, deliver it. If you have not, there is only one question, “What are you waiting for?”