Reward means more than pay…

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Posted:
Sep 10 2018

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To mark National Payroll Week, our CEO Oliver Shaw provides top 10 tips on how to reward employees in the modern business environment…

  1. Start from day one – kickstart employees’ motivation from the minute they join the team, with a positive welcome and access to all the resources they need. This initial interaction will create the sense of feeling rewarded, from the outset.
  2. Ask employees what motivates them – don’t assume a single reward package will inspire all, especially within increasingly diverse workforces.
  3. Don’t underestimate the power of a thank you, during both tricky and ‘flying high’ times. It needs to be personal though, irrespective of business size.
  4. Focus on outputs, not hours worked, and provide true flexibility, as much as practically possible. A simple step is to move away from the traditional 9-5 mindset, but, where feasible, extend that flexibility to retain great talent, e.g. allow sabbaticals.
  5. Empower staff to make decisions and – providing they reach informed conclusions and learn from mistakes along the way – support this iterative process. Don’t crush that person if they fall at the first hurdle.
  6. Make a fuss of people on their important dates, from work anniversary cards to a later start on birthdays.
  7. Take risks on people – there’s nothing more unrewarding than being the colleague who can (and does!) do the job, but doesn’t get the promotion.
  8. Promote professional development and devise a 360ᵒ performance management framework that works for the business and colleagues. It’s important to set and review targets, and plug gaps with either on-the-job or external training and coaching.
  9. Recognise that people increasingly want to ‘do good’. So, from CSR days to inviting staff to organise charitable giving opportunities, show that your organisation exists for more than just commercial gain.
  10. And of course, offer the most competitive salary you can afford – just realise it isn’t the only reason people come to work.

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