The Advantages of Rewarding Your Employees for Excellent Work
When an employee commits his work for an organization, they like the company to recognize their effort with the people or their coworkers whom they spend most of their time with.
Recognizing the contributions employees make to an organization helps solidify the company’s awareness and affirmation of something which a company holds as valuable and highly priced. People are wired differently and public recognition is not warranted for every social style, yet even the most introverted person will appreciate being appreciated for a job well done.
When an employee is appreciated at work, especially if there is a tangible reward for it, then the employee’s engagement is encouraged and it boosts his productivity since it follows that an engaged employee is more productive that an employee who is not.
So if there are company efforts to praise and reward jobs that are well done, it not only helps motivate the employee to perform better, it also affects the other workers to work harder so that they, too, will receive one for themselves. So if any company aims to foster employees’ engagement this way, then they cannot go wrong.
if a company wants to retain their employees then the best way is to support and appreciate the efforts of their employees. Companies should take employee retention seriously because if there is high staff turnover, the effect can be a low morale for the remaining ones and they would someday want out too. The value to retain an employee is less difficult than the effort that needs to be exerted to find a replacement and the training that goes with it. It is very costly to find and train new employees compared to rewarding good ones.
Also, if your employees are engaged with your business, they will be able to promote and sell your brand far better than someone who does not believe in or care about it. Employee engagement and loyalty to the organization can be achieved by rewarding hard work.
A very productive workforce is not only the result of having a good team leader but it also shows that the team is working in cooperation with each other. So you don’t only recognize the people on top but even the efforts of the people behind the leaders should be distinguished and recognized. So this is not about who have worked there for a long time, but who has worked hard for the team to succeed. There is a great team that excludes mediocre workers. Working alongside each other is possible when this type of team is rewarded accordingly. This is what team culture is all about.
Resource: my explanation