After hiring and training employees, companies need to worry about motivating their team to increase productivity. This is one of the most important objectives inside a company and organizational rewards can help achieve this goal.
An organization has various ways of giving out rewards, like a formal recognition for a person’s contribution, a personal letter, a travel award, additional responsibility, or a salary increase. Which of these would you guess makes employees more productive?
Small Rewards = Productive Companies
According to research paper titled “The hidden power of Small Rewards”, giving out small compensations to help employees stay motivated. “When rewards are large enough to trigger behavior but too small to fully justify the behavior, individuals will seek another justification for their efforts”, wrote the researchers.
On the other hand, providing rewards like bonuses and trips could demotivate some employees. The reason is very simple: employees do not view large rewards as an incentive to work more or better; they rather consider it an accomplishment and, as a result, there is no reason to follow up with more work. Giving a small reward timely, employees feel their work and efforts are recognized while still craving to get more rewards.
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This small reward model has been used in mobile, console and PC games, to keep players interested through experience points, upgraded weapons or armor. Thus, game creators have designed a customer base, one more loyal than other media consumers.
Just as in games, a company reward system encourages employees to collaborate with the growth of the organization, increasing company productivity and generating a greater commitment.
Benefits of a small reward system in an office
1. Encourages healthy competition
Competition deals with the aspect of human nature that motivates people to overcome challenges (whether against a competitor or themselves). It may sound a bit strange, but these small rewards feed the employees’ pride by allowing them to say that they have reached a certain level.
2. Generates a feeling of conquest
This also helps workers gain confidence as they learn how to have a winning learning experience. If you create a good small reward system in your team, you develop the notion of efficiency.
When people reach a certain goal, a feeling of achievement is reached, adding value to the business and converging more people to do the same.
3. Helps to measure performance
A participant in this system will not be able to perceive their growth without a clear demonstration of their progress through levels, achievements, or other structures set up for them to interact with.
To apply small rewards to a business, establish the “rules of the game.” This will help create an emotional connection between employees and the company. If marketing and advertising actions are out there to get consumers to your brand, small rewards have will help to retain your team’s work and make them identify and be more productive.
1. Frequent small rewards
You can give a small reward per month for basic tasks like attendance, punctuality, achievement of goals, etc. It could be a gift card or a giveaway.
2. Propose challenges and reward
Another productivity tip to encourage your employees is to offer small challenges on a day-to-day basis. For example, seeking a solution to an old business problem or meeting a proposed goal. Those who solve one of these challenges receive a small prize. The payout is small, but the team will engage in the challenge proposed. This encourages people to create new projects, which helps revenue grow even more.
3. Encourage training
Along the same lines, it is necessary to stimulate the constant intellectual and technical development of employees. That is because those who are stagnant also become unmotivated. As an employee, you like to see yourself growing in the company.
You do not have to do a lot to empower the team. There are hundreds of courses, lectures and events for free and online. The company can do this research and work with this kind of incentive. Recalling that making employees valuable is important to a productive company as well.
4. Close partnerships with nearby establishments
It is common for companies to have partnerships with nearby gyms, restaurants and schools, in order to offer discounts for employees. This type of partnership is inexpensive and helps make employees happy while the partner business might allow you to attract and retain more customers.
5. Offer extra space in the office
A cheerful and organized atmosphere goes a long way to make your employees more willing. Offering extra space within your business does not necessarily mean spending more. Encouraging employees to decorate their tables, setting a day for more casual clothing, hosting a weekly company-wide meeting, or reserving a small space for relaxation and coffee. Bringing joy has no cost to the company and happy people are more productive.