Reward and recognition are varied from business to business, how businesses appreciate employees will be dependent on the business’ distinctive needs. We first need to differentiate the two: Rewards are normally seen as gifts, awards and bonus’. Recognition is normally seen as praise and the calling out of their success. In this blog we will be discussing the importance of rewarding and recognising the employees. As advantages and incentives go, rewarding and recognising employees is truly greatest, one of the most effective methods of employee satisfaction and retention.
Employees being rewarded for their effort’s should be an important factor in any business’ as it sends a clear message to the employee that what they are doing matters. Rewarding employees has so many rewards:
- Boosting employee morale
- Motivation in the workforce
- Happy and positive workplace
As well as benefitting all the staff, employers will reap the benefits of rewarding their employees as well. Rewards do not have to cost a substantial amount of money, a simple well done or congrats can really help employees throughout their careers. Benefits include:
- Improve productivity
- Staff retention
- Increase in revenue
Finlay James has an amazing approach to rewarding their employees as the company understands how important it is. FJ approached this by asking their employees to go to undertake a questionnaire to understand what they want, the feedback they received was very interesting. The employees came back by stating they preferred having a half or full day off as perk of their efforts in the workplace, instead of the normal day out, meal and voucher incentive. FJ implemented this straight away as well as flexible working hours! Employees feel like their hard work and efforts are being rewarded.
Looking for more guidance?
FJ can reward our employees let us reward YOU! Get in touch with a member of the Finlay James team here and let us bring your career vision to life.
Click here to look at our live roles!