It's always a good idea for business owners and managers to recognize and reward their employees for the work they do, above and beyond their paychecks. These rewards can be as simple and long-lasting as a plaque or trophy from a place like Scotia Engraving that they get to display in the office or take home with them. Trophies and plaques are a good way to reward employees and encourage others to follow suit when someone does an outstanding job, but note why you want to recognize your employees this way in the first place, and how it can affect your business overall.
1. Employees may take the risks that lead to big rewards
An employee may risk sending samples of products to buyers in different markets or industries or to customers that have even outright said they won't buy from you, and may risk rejection by continuing to call on those that are outside their standard sales area. It can be risky to face rejection this way, but it can also lead to big rewards by way of contracts or orders you've never seen before or that you thought were lost to you.
An employee might also take risks by suggesting modifications or improvements to products you make, or to your current production processes. They may also risk suggesting new products or services you've never considered for your business. The risk of making these suggestions can result in streamlining, increasing revenue, or tapping into unknown markets. Without your employees taking these risks, your business may become stagnant, but they need to know that you appreciate their suggestions, ideas, and initiative. This is why it's good to reward them when the company sees the payoff from their risks.
2. They may need constant motivation
An employee who sells 25% more than another employee but who gets no recognition for their extra effort may soon see their motivation drying up. It's always good to reward your employees on a regular basis so that they can be encouraged to always keep up their extra efforts. This might be done every quarter or annually for a large company whose sales contracts are created over a span of many months or for law firms where a certain case may take that long to unfold, but may need to be done more often for other business. Note that retail workers, car salespersons, and workers like these need to put in that extra effort every day in order to generate new business for your company. Without constant recognition, their enthusiasm may wane from one week to the next and your business may then drop off.Share