Recognizing and rewarding the efforts and achievements of their employees is the key to enhancing the engagement and loyalty of the workforce. In fact, a majority of business organizations today have an effective reward system in place to keep their employees happy and retain top talent. In this highly competitive business environment, such employee rewards programs can provide a winning edge to organizations by helping them to build a high-performing workforce. These reward programs assure the employees that they are valued by their employers and their contribution towards organizational growth is truly appreciated. That is why it is important for organizations to do some amount of strategic thinking for developing the most effective rewards and recognition programs.
Most effective ways to recognize the best employees
When it comes to rewarding and recognizing their best employees, organizations need to be creative and thoughtful to get the best results. They need to understand the fact that while they might be recognizing the efforts of individual employees, doing it in the right manner can actually help to boost the morale and motivation of the entire workforce. Discussed below are the 7 best employee recognition ideas that organizations can consider for better engagement and improved performance:
- Present a handwritten ‘Thank You’ note
A handwritten note penned by the immediate supervisor of the employees thanking them for their exemplary performance can go a long way in sending out the right message. It is important to ensure that the note is well-worded and reflects a sense of care and value for the employee by their superior. Such notes may seem to be a small way of appreciating the most deserving employees, but they can create a deeper impact than other tangible rewards including cash.
- Throw a celebration party
Celebrating the success and achievements of outstanding employees by throwing a party in their honor is another effective way to show appreciation. Since planning such parties requires the management to invest considerable time and effort, it makes the employees feel valued. This single gesture will surely make the employees feel more appreciative of the organization and motivate them to continue their good performance.
- Provide time-off
Another effective way of rewarding top performers is by allowing them to take a few days off from work on full pay. This will enable the employees to spend quality time with their family and make up for the long hours they have been spending at work with hectic schedules. It will also enable them to restore some balance between their personal and professional lives, which will enhance their happiness and satisfaction levels.
- Pay for a favorite magazine subscription
Paying the annual subscription fee for the favorite magazine or journal of outstanding employees is another great recognition idea. It assures the employees that their managers are aware of their likes and preferences. Moreover, the free year-long subscription that comes to them every month enhances the value of the reward further.
- Tickets to an event
Offering the employees free tickets to an event such as a concert can prove to be a great way to appreciate their hard work and achievements. However, the managers should make sure that the events match the taste and preferences of the employees being rewarded. From sports events to music nights and even movies and food festivals, the organization can choose from various options depending upon what the selected employee finds most appealing.
- Paid vacation
Paid vacation is considered to be one of the best rewards that organizations can give to their outstanding employees. In addition to providing the employees an opportunity to enjoy and relax in the company of the family or friends, such vacations help in deepening the sense of loyalty and belonging in the employees. The employees return to work filled with a greater sense of commitment and a determination to give their best in every way.
- Invest in their professional development
Paving the way for professional growth and success of an employee by investing in various training and development programs and courses for them is another excellent way to reward top talent. The employees feel assured that the company supports them in their endeavor to improve their professional value and competence. By supporting the employees financially in their efforts to gain the desired skills and knowledge required for their career progression, organizations can send out a strong message to the employees that they care about their future. This will be reciprocated by the employees through a continued high level of performance and dedication towards the organization.
Implementing the above ideas of recognizing their best-performing employees can help organizations enhance the engagement and motivation levels of their employees and thus get the best out of their best employees.