It’s no secret that people need to feel appreciated. The more appreciated people feel, the more likely they are to continue to do things for which they receive appreciation. The same is true for employees. Rewarding employees is beneficial for both the employee and the business.
Businesses are more profitable when employees are productive, and employees who feel appreciated perform better. Rewarding employees shows that their work is important and appreciated. Employees are therefore more likely to be engaged, more likely to be problem-solvers and more likely to continue to produce quality work when they know that the work will be rewarded.
Higher Job Satisfaction
Employees who are rewarded also report higher job satisfaction. These employees are more likely to be content and to find their jobs more fulfilling. Research shows that higher job satisfaction is also correlated with employee motivation. Those who experience higher job satisfaction are more motivated to attend work, be on time and do their best while there.
Positive Workplace Culture
Equally important is a positive workplace culture. Employees who are rewarded feel valued and, in turn, tend to value others. This can create a more cohesive team and build respect among team members and employers. This allows for more synergy and innovation in the workplace. As they say, “two heads are better than one.”
In many businesses, employees are on the front lines and have the most direct contact with customers and vendors. Employee attitude, whether happy or unhappy tends to show in interactions with customers and the community. Those interactions can affect a company’s reputation. Happy employees will be the positive face of a company will better represent the company’s brand. Customers will enjoy better service and employers are more likely to enjoy repeat business too.
Rewarded employees are also more loyal to the brand and the company. These employees are better brand ambassadors and, because the work is rewarding, they believe in the company and product. Loyalty also means that employee retention is higher. This saves business owners the time, frustration and money associated with training due to turnover.
Employee rewards can take many forms: from recognition at a team meeting to pay bonuses to truck drivers with satellite TV access in their trucks. The wonderful thing about rewarding employees is that programs can be tailored to the culture, brand and employee needs of an organization. They can also provide many benefits to employee and employer.