A happy workplace will invariably have higher productivity, which will ultimately lead to the generation of better revenue. Keeping this in mind, the most important driving factor for the success of any business is its employees. While employee productivity is generally seen as the go-to metric to calculate ROI, retentivity and responsibility should also be kept in mind. So, keeping this in mind, employers today need to come up with a variety of employee engagement ideas to inculcate the team spirit across the organisation.
This is precisely where the functions of the HR come into play. The human resource department helps improve workplace interaction and productivity. They encourage award ceremonies, star employee appraisals, rewards and recognition programs, and many other functions as well. However, the people working to achieve this often ignore the fact that the simplest way to achieve this goal is by promoting employee motivation.
Appreciating employees for their efforts, praising them for meeting deliverables on time, and efficiently completing work are points for which a person should be praised. Recognising them for a job well done will help cross target boundaries and help carry forward the vision that your business carries.
Reduced rework on deliverables –
Dedicated efforts at work reduces errors and faulty deliverables. It enhances employee output and encourages high performance in the tasks performed or the work delivered.
Reduced cost –
A motivated employee works towards the betterment of the company, which basically leads to the delivery of his or her best work at the very first shot. As deliverables are approved at one go, rework is reduced by a considerable extent. Therefore, the same time can be utilised for better productivity. Also, unwanted costs are reduced, and the company can expect better return on their investment.
Employee retentivity –
As companies realise the importance of Rewards and Recognition Program in Organisations, retention is also enhanced as a result. This is because employees perform better, and they are motivated to work. This helps improve employee retention in the company by a substantial extent.
Higher productivity –
Motivated employees work harder and better. The secret to better performance and high productivity is the peace of mind that an employee gets when they are recognised for their efforts and rewarded for their potential.
Improved performance ratings –
As an employee performs well, the company gets better returns, and managers become content with the performance. Owing to this, the authorities give higher and improved ratings to employees, which leads to improved yearly appraisals for employees.
Rewards and Hikes –
Better performance appraisals result in higher performance pay, employee rewards, or hikes on monthly and yearly basis, which produces high-performing, satisfied, and happy employees.
Gifts, Rewards and Prizes: Employees spend most of their time in the office, which makes it important for employers to know about the days important to each employee and celebrate those days for them. This can be anything – gifting them on their birthdays or anniversary, sharing a small portion of extra profits earned because of them, or anything else along the same lines. At times, it becomes difficult to decide what would be the best and useful gift. In this case, one should switch over to gift card or employee meal cards.
Awards: Award programs create a light atmosphere in the company. Rewarding the employees need not be serious and performance-based – their talents or traits in light humor is also acceptable and creates a friendly environment in the organisation
Appreciation and recognition: Recognise your key employees and appreciate them for their achievements or reaching certain benchmarks. It is necessary that the employee reaches a certain level of satisfaction in the workplace, while the organisation understands the importance of rewards and recognition programs. This will help them outperform existing employees and achieve the company’s ultimate goal.