Employee rewards should be differentiated by the employers goal in giving the reward. If you're giving a reward for a job well done in an "everyday instance", the reward should be different than exhibiting exemplary community behavior, which should be different than a reward given for long term growth. Here are three situations and how to differentiate employee rewards for each.
- Everyday excellence. These should be small spot rewards that give employees a material "pat on the back." Small rewards, like a friday afternoon off or a small denomination gift card to a popular retailer like The Limited, The Children's Place or Catherine's are a fixed (and low) cost way to encourage positive employee behavior.
- Model citizenship. Employees should be rewarded, or at least recognized for giving back to the community or otherwise exemplifying model behavior on behalf of the organization. If an employees donates their time or financial resources to a specific cause as an agent of your organization, matching their donation is a great way to promote such behavior and create a real sense of community at work.
- Continued growth. Growing a young workforce is often a challenge. Keeping young employees engaged and thriving, while growing their skill sets can be tough. However, using professional development as a reward for doing well at their current job is an investment in a workforce that primarily benefits the employee, making them more valuable in the long term.
There is a reward for every occasion and the more appropriate the reward for the occasion, the more effective the reward.
For more ideas head over to Forbes.com.
