Helen Keller says, "Alone we can do so little; together we can do so much". This quote is about teamwork and how important it is for a business to achieve success. When it comes to businesses and their teams, it includes long-serving and loyal employees who have been there in the company through thick and thin. In today's time, businesses put their staff before anything else, even profit. The employees have several employment options and the recent "great resignation" shows the employees have faith and confidence in their abilities and what they bring to the businesses.
In this scenario, while employees are getting more self-aware and the competition in the market increases, it is important to appreciate the long-lasting employees of your company. For the past several years their loyalty has been the reason why your business is flourishing and this is the time to show gratitude. In this situation giving rewards to staff can boost their working morale and productivity. This is also another way to foster engagement between the employees and the work culture which helps create a positive work environment. This results in the employees feel heard and seen by the employers. On top of that, it also encourages loyalty toward the company.
But you may feel lost in choosing what ways you can reward your employees which is why we have selected the top 5 best working and effective ways for you.
1) Bonus
To all those people who think money does not buy happiness, they are in the most wrong. Money most definitely matters and almost every working professional chooses to work because of money. But if you ask your long-serving employees if they want an increase to their pay slips as a reward, they might hesitate. Serving somewhere for a long time creates a relationship that values more than money. But this does not mean giving them a bonus will be turned down. So this is by far the best and most effective way to show your gratitude toward them. You can add a bonus when they reach a milestone tenure as a reward for their performance and loyalty.
2) Physical Awards
This is another way of rewarding your employees that leaves a long-lasting impact on them. This is a clear and extremely visual way to recognize someone's merit who has been with the company for a long time. This will make them valued at the company and create a respectable image within the work environment. You can give out a certificate or a trophy that the receiver can display on their desk walls speaking on behalf of their loyalty and service.
3) Lunch Date
This idea of rewarding employees who have been with the company for a long time has become popular in recent ages. This will create an identity of importance in the organization for the employees. You can choose a premium restaurant or an eatery and take the team of long-serving employees on a lunch date to honor them.
4) Short-stay Vacation
This is also another way of reward that has been made popular in recent times. You can arrange a short-stay vacation for the employees to show them it is needed to take some time off. It is also impactful as a team-building exercise and creates an unbreakable bond between you and your employees. Take the weekend a book a nice hotel to get away from the hectic work schedule with your employees.
5) Team Celebration
What can be more important and effective to increase productivity and inspiration than a team celebration? Celebrate each success with a team celebration as it makes the employees feel valued and appreciated and at the same time encourages them to reach more important and harder milestones.
These are the top 5 best ways to reward your employees but it is important to leave room for improvement as not everyone reacts the same to everything.
