Best Ways to Reward Employees

On the surface, rewarding employees sounds like a simple task. However, the best employee reward programs require some thought and a great deal of insight into the organization as a whole.

The first thing to remember is that different employees view rewards in different ways. While one person might think that wearing jeans on Fridays is a great reward for a job well done, another might rather appreciate a simple certificate to hang at his or her desk. Some team members might appreciate a small celebration for the group while others may prefer a few hours of free time as a reward.

You may be thinking: "I'm never going to make everyone happy, so maybe I should do nothing at all." This is isn't a great approach either. After all, rewarding employees isn't rocket science! Keeping in mind that the best individual rewards do require a little thought, consider which of these rewards would be best for each of your employees:

Financial Compensation: Obviously, at the end of the day, we all work in order to be compensated. Some organizations choose to offer bonuses for exceptional performance and this can be a great way to keep employees working towards a common goal. Giving stock options can be another form of financial compensation which employees would appreciate.

Time Off: Consider rewarding your hardest workers with some additional time off of work. After all, they deserve a break after all of the additional hours that they've put in lately.

Internal Award: Organizations often offer awards for outstanding contributions (these often include a token gift, such as a restaurant gift card or a small cash prize). This lets the whole organization know that this person has done a great job, increasing the person's exposure throughout the company.

More Work: OK, laugh all you want, but some employees really are looking for more work as a reward for a job well done. Whether it's that prized promotion or the lead role on a project, some team members really are looking for additional work as a reward for a job well done.

If you're looking for a way to reward the organization as a whole (versus individual employees), the consider having a group celebration. Allowing the organization (or project team) to celebrate a victory together is a great way to reward employees. A celebration doesn't have to be expensive a simple cake or some cookies is all takes to make many workers happy. Some organizations will give the entire group time off when a team goal is met. For example, if a sales group exceeds its quota, then everyone in the group gets the afternoon off, encouraging the organization to work together to reach a common goal.