It’s often said that your most valuable resource are your employees, so you have to make sure to reward the loyalty of your employees.
Whether you’re a well established company with hundreds of employees on your payroll or just starting out, recognize immediately that these people are giving up their time, skills, physical and mental efforts and dedication to whatever it is your company focuses on.
Without your employees, you’re simply just an idea waiting to happen.
Try to think where you would be without your most valuable team members. You’d be in a tough spot to say the least. So make sure you’re taking the time to acknowledge their efforts and reward them accordingly.
Setting Your Employees Up For Success
Rewarding an employee’s loyalty is much more than how much you pay that person for their time and efforts. Money is just one of many ways to show your gratitude for loyalty and a job well done.
But before a single bonus is paid out, or share of stock issued, you need to make sure you’re providing them with everything they need to be successful at whatever task you’re expecting them to accomplish.
Did you…
Establish Clear Objectives?
Know where you’re headed and which road you plan to take to get there. Your employees need to have this information as well.
You must clearly outline your objectives and the path you wish to take to get you there. You must also find a way to communicate those objectives to those working underneath you or else they won’t be able decipher the best path.
Aimlessness leads to confusion and ultimately, burn out.
Be clear with your goals. Be clear with your vision and communicate that to everyone on your team.
Properly Train Your Employees?
In addition to establishing clear objectives, you need to be sure your employees have the training they need to become the very best at what you expect them to be doing.
The training systems you provide should help them to take their skills to the next level.
Be sure that you’re constantly evaluating the effectiveness of your training systems by seeing how well your employees are doing once they’re doing the jobs you’ve hired them to do.
If there is a drop off in the quality of work or the satisfaction level of your employees or customers, consider re-evaluating the training programs you’re providing. These systems might be outdated, ineffective or simply not as applicable as they once were.
Reward Loyalty: Provide The Resources They Need to Succeed?
To help further ensure the success of your employees, you need to be sure you’re providing the with everything they need to effectively achieve the task at hand.
Your coders should have the best tech you can afford. Customer service reps should have a high quality phone/e-mail system to be able to effectively communicate with your customers. Executives should have comfortable seating and a dedicated space they need to do the jobs you hired them to do.
You also want to be sure that you’re checking in with your employees to make sure that the resources that you’re providing are the resources they actually need.
You might find that what you think they want and/or need might differ greatly from what they’re actually using in real-life scenarios. This is one of the easiest ways to make sure you reward the loyalty of your employees.
Reward Loyalty: Tangible vs. Intangible Resources
It’s also important to know which tangible and also intangible resources they need. This goes beyond providing the best equipment, machinery or tech.
For example, what type of atmosphere are you providing? Is your workspace inviting, warm and fun to be in? Does your workspace reflect a communal atmosphere? Is it collaborative?
Do your employees feel safe or encouraged to present new ideas? Do you provide them with the time they need to decompress, refresh or re-energize?
Some people might read that last line and think we’re asking you to install a yoga room. And yes, while that might work brilliantly at some places, we know a small business is lucky enough to have any room!
But take a look around at your space. Make sure it’s a space people would want to spend time in and take the time to recognize that a little can go a long way to making your employees feel more comfortable and valued.
Reward Loyalty: Rewards Aren’t Always in Dollars
Most employees recognize how much time and effort they give of themselves to a company. But if the company isn’t showing that they value them, then the employee becomes dejected, angry and eventually an ex-employee.
Bonuses, high salaries, stock awards and a great 401k program are all wonderful ways to show how much value you put on your employees efforts, but they’re just part of the equation.
Your employees are giving you their lives — literally. So respect that. Provide everything you can to help them succeed. So if you make sure to reward the loyalty of your employees, their loyalty to you will continue to grow. Their gratitude toward you and your company, but they’ll be proud to call your business their place of work.
