Keeping employees motivated has never been as important as during the current economic downturn. As companies reduce their workforces, employees need to work at optimal levels to ensure increased productivity and profitability.
Now more than ever, organizations must be proactive and have the right strategies in place to keep employees motivated.
Valued employees who feel appreciated for their hard work and efforts are more engaged in their organization, therefore demonstrate high productivity and efficiency.
To be effective, all rewards and recognition must be:
- Timely. Recognition should be as immediate as possible. If you don’t thank someone until long after the effort, it diminishes the importance and sincerity.
- Continual. It should be an ongoing part of your culture. Don’t make rewards seem like after-thoughts.
- Customized. Rewards and recognition need to make sense in your culture and to your employees.
- Balanced. Think about appropriate levels of gratitude for the action you are recognizing. For example, offering a gift certificate to say thank you for a job well done and something more substantial when someone has achieved a milestone for the organization.