Understand The Role of a Reward in Employee Motivation
If youâ€™re running an organization, then taking care of your valuable employeeâ€™s happiness is your top-notch priority.
Understanding the key role, dedication, and hard work for achieving something precious will help you know how valuable employees are for you and how you would keep encouraging them.Â Rewarding them is the first step that you can take into consideration for making them feel happy and motivated.
Either you can reward your valuable employees with trophy awards, hosting a celebration party, or give them incentives or bonuses along with their salaries. All these matters a lot to uplift their moods.
Keep in mind that your reward distribution will not just make them feel happy but also help them realize your value in their work and appreciate them for their dedication. However, if you overlook the role of reward and donâ€™t appreciate your employees for their achievement, then you can never stand ahead of those businesses that are flourishing in the industry day-by-day.
Here, we have curated a list of some of the best benefits of rewards that will ensure you take care of your employeeâ€™s motivation from the bottom of your heart & value whatsoever they do for your company.
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7 major benefits of rewarding awards & trophies to employees
1. Rewards Boost Productivity
Rewarding awards in your organization means you’re heading to more efficiency and improved productivity in your workplace. Yes, when your employees will be satisfied with their job role and appreciated for their hard work, they will work happily and boost productivity. According to a survey, it is to be concluded that around 79% of employees say that motivation makes them work harder, and 78% are more productive after being rewarded. This is why if you also want to upscale the level of your business, then you must appreciate your employees for their hard work and time utilized.
2. Rewards = Happier Employees
The number of employers want their employees to be happy, so they can work hassle-free & contribute to higher morale. If you are one of them, then it’s good to know your employeesâ€™ hard work, values and motivate them with trophies or awards. Making employees happier will hit revenue targets and your business will thrive more frequently than ever. In addition, research also shows that when employees are happy, they are approximately 12% more productive. And around 86% of employees say that they feel prouder when they are encouraged at work for their achievements. So, if you appreciate your employeesâ€™ contribution to your business, then take care of their happiness thoroughly.
3. Raises Trust
Apart from making employees feel happy, employee appreciation also improves trust in the workplace. The study showed that around 90% of employees who had received some sort of credit for their work in the past month have tremendous levels of trust in their manager. Employees actually want to realize that their efforts are making a huge difference and arenâ€™t going unrecognized by high authorities. This is why rewarding and recognizing employees now has become a necessity to stronger relationships that drive motivation. The U.S. Bureau of Labor Statistics states that the most common reasons that employees leave jobs from the fact that they donâ€™t get any respect from their organizations, or they arenâ€™t trusted to do their jobs.
4. Awards Work Better than Punishment
In simple words, it means that organizations are better served to concentrate on gratifying employees for their activities rather than looming punishment; if they want to encourage them. Distributing trophy awards, prizes for special moves trigger the â€œgoâ€ acknowledgement that motivates them to act in order to obtain the kind words. Attempting to scare employees by giving them warnings about the worst things that are going to occur if they donâ€™t act accordingly is expected to formulate more panic & stress, which can hinder progress. This is why it is being said that rewards work better than punishment. Rewards will gratify an employee and punishment, on the other hand, will never be an efficient motivator.
5. Job Satisfaction
When talent becomes the currency of a successful career, organizations have to curate new ways to assure that no talent is compromised by improper working conditions and lack of motivation. This is why being an owner, you must analyze the value of reward for your employees and make them feel satisfied with their jobs.
While receiving awards, trophies, or kind of incentives, your employees will feel proud of their key skills, job role, and remain connected to the company emotionally and ethically. Being appreciated will increase truthfulness among them and they will work more dedicatedly to compete for hard and impossible challenges.
6. Boost Competition
One more thing that you can have in your organization after understanding the importance of awards is boosted competition. Yes, when you give reward to the champion teams of your company, rest will also plan to work more dedicatedly, so that they can also receive this opportunity. It will boost a sense of competitiveness in your organization. And where is competition, there is success guaranteed. Your employees, teams will decide to meet the hardest challenges of upcoming projects and thus, ensure that they too deserve trophies or rewards.
7. Promote Enthusiasm
Last but not least! Understanding the importance of awards and motivating your employees also leads to promoting enthusiasm in your workforce. By promoting the employee benefits & experiences, you can give them exclusive services, checks for personal care, holiday packages, corporate tour possibilities, etc. All it rejuvenates your staffâ€™s morale and helps them feel proud to be part of your organization.
Hopefully, reading the benefits above-mentioned, you can now better understand the role of a reward in employee motivation. If youâ€™re running an organization, no matter startup or established one, rewarding your employees for their hard work will result in more productivity and efficiency. Based on the employee’s work, efforts, and designation, you can choose the crystal trophy in Singapore or other awards.
Rest, if you are encouraging your employees to give them trophies or awards, then do let us know what changes you have observed till now. Weâ€™d love to hear from you!!
Enjoy Reading & Have a Cheerful Day!!