Boosting morale

At this time of the year it is customary that your employees will begin to switch into holiday mode as the festive season takes hold. This can present a great opportunity to recognise and reward exceptional performances occurring in the year that’s been. Whether this recognition comes in the form of monetary or non-monetary rewards, positive incentives can go a long a long way towards establishing a nurturing rapport with your employees. The outcome of this can even be to ultimately improve staff retention and your business’s reputation as a whole.

COMMUNICATING RECOGNITION

There is a lot to be said about a simple verbal congratulations to outstanding staff members. While this may seem a small gesture, for an employee who has been putting in the hard yards it can mean a lot to receive spoken recognition of this by senior staff managers. You may also like to recognise staff in a more formal manner, by naming an agent or staff member of the month, or offering a small gift to prompt other staff to also exceed their goals.

AWARDS NIGHTS

Industry events or awards nights can be great occasions to recognise the successes of top-performing agents. Century 21 agents are fortunate to be a part of a global organisation which already provides opportunities to recognise the achievements of agents outside of their individual offices, with state-wide and even nation-wide awards ceremonies. The Gold Hat Award for media presence is another means by which agents of the same franchise can work together to achieve recognition for the office, demonstrating to other offices the wonderful work they have been able to achieve together.

AD-HOC THANK YOU’S

Ad-hoc benefits should also not be underrated. Privileges like an annual Christmas party or a spur-of-the-moment team lunch can be just as rewarding as performance-related bonuses. An additional benefit is that they provide another opportunity for staff to socialise together and bond.

In a performance-based industry, a successful rewards strategy can be an enormously effective means for retaining staff and incentivising them to achieve their goals – and beyond. The benefit of a highly motivated staff base will almost certainly outweigh any associated costs that such rewards would have to the business.

Posted by George Tarbey on 03/12/2014 at 12:00 AM | Categories:

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