Taking Time to Learn More About an Employee Incentives Program
When you are managing a busy company you have enough on your plate day to day without worrying about anything that may be considered out of the box – the way that I once considered a rewards program. It was difficult enough to manage all the day to day happenings of employees without trying to manage their future prospects but in retrospect I saw that I had the whole thing wrong. I was not looking at the bigger picture – I was only focusing on getting through the day; and in the end I probably cost myself some really great employees as a result.
I had never considered incentive programs but it was brought to my attention in a management conference that I attended; a way to reach out to employees who may feel slighted and passed over by the company and a way to reward good work which we had really failed to do appropriately in years past.
I finally slowed down and took the time to really think about what I was doing. By implementing an employee incentives program I could maximize the initial investment by keeping those employees that are paramount to growing our business; the employees that will ultimately mean our long term success. It didn’t take long to realize how important a program this could ultimately be for my business and how I had failed to realize its potential prior to this.
I immediately set to work putting together our own rewards program that would recognize hard work with appropriate tiered prizes. By taking this small step I could not only address the day to day operations of our business today but I could address the future viability of our company for years to come. This was about establishing good habits and I was ready to do it.
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I applaud you for taking steps to create a rewards program! Competitive advantage comes from attracting and retaining the very best employees and employee recognition is one way to create employee commitment to an organization.
It doesn’t take a lot of money to make employees feel valued and appreciated. Employers often over-emphasize incentives and under-emphasize recognition; however, when it comes down to it benefit of recognition is having employees feel valued for their efforts, not about the stuff they receive.
Comment by PHWP — September 16, 2009 @ 11:16 am