Watch our short video on reward and recognition for more detail
43% Of workers say lack of recognition leads to low motivation
There’s no one size fits all
Involve employees in what reward looks like to them
Jonas Salk said that the reward for work well done is the opportunity to do more. And while that might have worked for Jonas, the same can’t be said for everybody.
When asked for reasons for feeling demotivated, 43% of workers said feeling invisible or undervalued was the root cause of lack of motivation. And a recent Gallup survey suggests that lack of motivation costs global businesses seven trillion dollars every year!
The solution? Unfortunately there isn’t a one size fits all.
I personally get a little bit more out of a small gift or a simple thank you card than I would out of an extra £100 in my wage. Someone else may prefer a monetary reward or just a shout-out on your company website.
When thinking about how to reward and recognise your staff, the key is to ask them what they want. What does recognition look like to them? How do they like to be thanked? And put in place some simple things that would work for the majority, if not all.
Also consider making reward little and often. How motivated are you in January if you’re going to get your reward in December?
Do you have questions about reward and recognition?
Give us a call at CUBE HR, we’ll be happy to advise you and we have policies and templates available to meet every HR need.
Why not check out our other blog on the same topic Managing Performance – 3 Things You Need to Know
You can also watch a range of other videos on our YouTube channel