Employees are looking for more flexibility at their workplaces rather than concentrating only on salaries and benefits packages. Because of the disruption due to COVID, people want to retain flexible working hours, health benefits, and a good number of vacation days. Above all of that, workers are more serious about motivation and empathy than ever before. If you treat your employees like a part of your family, they will deliver you stellar performance and don't think of leaving your organization. You have to be flexible and bring changes in the work processes to synchronize with the changing business needs. Flexible rewards for employees help you to unlock true potential and provide a phenomenal total rewards experience. Let’s look into the Total Rewards Components that need to be revamped for a better experience. 1. Pay: Companies are becoming more flexible in providing compensation benefits and hikes in salaries. In today’s scenario, the achievement of team goals and honing
Providing rewards and bonuses is the best way to acknowledge good work and motivate employees to deliver exceptional work. But however you do it, reward systems are imperative to appreciate the efforts of strong performers in your organization.
Research shows that money as a reward for performance lowers motivation because it’s a materialistic reward and can’t add much value to day-to-day life. Today, in the post-covid world, personal enjoyment and satisfaction are the new key drivers to achieving meaningful goals.
Employees who are incredible achievers need motivation, feedback, and greater career opportunities to excel.
Personalisation of Reward for future work would be very exciting for employees and it motivates you to do incredible work.
Below are the ways to value great performers and help them
achieve job satisfaction.
- Providing Assignments: Setting
meaningful goals and working towards them to accomplish on deadlines is
itself challenging and motivating. It’s great; if you communicate with
your employees and know about their interests, then create goals as per
those interests.
- Coaching and feedback: Regular
feedback is instrumental in helping employees to achieve phenomenal
performance. With regular feedback and coaching, you help your employees
to know their shortcomings in work and also tell them about their positive
inputs. Employers need to be specific while sharing the feedback and how
it can help you positively in your professional life.
- Greater Authority: Provide
ownership to your employees so that they feel valued at work and take
independent decisions to deliver sterling performance.
Offering Employee Reward Products can make a huge impact on the
morale of employees.
- Career Planning and Support:
Everyone likes to grow in their career so it would be phenomenal if you
open gates of opportunities to ambitious and strong candidates.
Introduce training programs to enhance the skills of employees and support them in their career decisions.
It is important to recognize the good work by providing employee reward products and flexibility to top-performing employees.
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