3 Ways to Give Employee Rewards Recognition to Improve Your Retention Rates


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Give Employee Rewards Recognition to Improve Your Retention Rates

Dealing with constant resignations, especially coming from your best employees, can result in a tidal wave of consequences and responsibilities arising to your plate. Employee turnover involves a lengthy process of finding a new set of talents, which is no small feat in itself.

Thinking that a high paycheck is enough to serve as recognition for quality, hard work may be the reason why office productivity is dropping. That’s why showing your appreciation by rewarding staff members with non-monetary means offers the solution.

A simple dinner out, new gadgets, international travel, or even just a good cup of coffee is enough to embolden your workforce on the daily. With that in mind, here are some different ways to show your appreciation to your hard-working employees:

Tip #1: Give Praise Where It’s Due

A simple way to establish a good connection with your staff and show your care is by providing meaningful feedback and praises. You don’t need to resort to generic emails or gift cards, as it can make the situation awkward.

Instead, giving a handwritten note of thanks is enough! Even better, you can talk to them privately and talk about how you notice their hard work. This can also establish an ongoing conversation in the future, which should help direct them to move forward in the right direction.

Tip #2: Establish a Positive Culture Using an Employee Appreciation Program

A fun way to promote positive behaviour and to encourage company culture is to establish an employee appreciation program. The program can involve a point system, which is awarded to employees who complete their tasks promptly, assisting other colleagues, and other product qualities.

The points can be collected monthly and can be redeemed for certain benefits like leaving work half an hour early for a day, an added vacation or sick leave, or even small prizes like vouchers, discounts, or even a night out to dinner.

Tip #3: Provide Awards that Go Beyond the Usual Paycheck or Benefits

Providing a competitive paycheck and benefits is vital for all employees. Still, it’s not necessarily the only incentive to go the extra mile for the company, especially after working for years under you.

Showing staff recognition using awards like gift cards, a free drink from popular cafes in your area, tickets to an event, free lunch, and other forms of prizes is an exciting way to make your employees feel happy and appreciated for their hard work.

In Conclusion: Recognising and Rewarding Your Employees Can Increase Productivity and Reduce Employee Turnover

If you only find out why your valuable staff is leaving during their exit interview, then you’ve lost the window of opportunity to fix issues within your company culture and how it treats employees.

An excellent salary and benefits package is only enough to make your employees do their job according to their requirements, but going up and beyond in your management by providing prizes or reward programs is sure to improve your employee retention rate.

If you’re looking for ways to show your staff in Sydney, Melbourne, Brisbane, Adelaide, Hobart, Perth, and soon to be regional towns all over Australia, the recognition and appreciation they deserve, we are your best option! Get in touch with us today to see how we can help you reward and recognise your best employees!

Also Read: Channel 7 Sunrise – thnx! Gratitude App

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Bean Scene media release. A discussion that talks about the many benefits associated with sending coffee as an appreciation gift.

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