How do you reward your team for their contributions?

From my experience, with 5 generations currently in the workplace, it bears repeating that each group may be seeking something different when it comes to rewards. Though some employers may find it troublesome, the time spent with understanding the unique needs of each group can pay lasting dividends when considering the current job seeker market. As the old saying goes, it's easier to retain than to recruit, and this have never been truer. In terms of tapping into what each individual may desire as a reward, a simple step would be to incorporate the ask into your onboarding process, another option would be to annually survey your team as part of your ongoing engagement activities.

The best leaders understand what motivates each of their team members. At one company, our team did a "5 Love Languages" style personality assessment so that our boss could understand not only how we each choose to be appreciated but also how we like to be communicated with and/or celebrated. Not everyone wants public recognition.

In my view small gestures of Greetings, chocolate, lunch etc can be a great motivational boosters .Simultaneously their mistakes can be made as a case study in a positive way .In case they are late for work then explain them flexible working hours to be implemented .Small encouraging statements would certainly help them motivated

In my experience, helping your teammates understand who you are as an organization and a department is important as well. Clearly defining expectations and values help individuals mold their behavior to align with department and company goals.

All boils down to listening to them, knowing is not enough. But here are 3 ways to get started: a) Know your team & remember their passions/likes outside of work. Be it anime, Fitness or just fun gadgets. b) One size will never fit all - It's cumbersome but you have to look at something different/unique for every member of the team. c) Unexpected/Random surprises always go a long way.

In addition to setting up a rewards-based performance model, I would encourage you to incorporate a self-assessment component where your employee can weigh-in on their own performance. Over the years when applying this model not only have seen employee performance rise, but it has also led to courageous conversations taking place that likely would not have occurred otherwise. In addition, to improvements seen among individuals this also contributed to overall improved performance among the team.

Celebrate their small wins. This encourages to learn and achieve lot more in the long run. Pay close attention to their dedication in the work rather than only the result, but don’t micro manage. This does that you care about not just the results but also in their personal development as a team member. Make it easy for your team to ask questions. Rewards don’t always mean money, praises etc, it also means being heard, taking their suggestions into action and genuinely supporting their growth.

The previous organization I worked in had a reward system called "Go Benefit". This was tied to the overall performance of the organization. Once the organization meets their target, employees look forward to this. Communication on performance and the reward is previously shared and everyone is aware of their contributions towards this achievement. After the rewards are received, staff engagements is always high.

Setting clear and measurable expectations is critical to the success of an organization or team. Many companies fail to do this because they struggle to understand what reasonable expectations are. In my experience, setting a baseline expectation, even if you know it will need to be modified is a good practice. You can always make adjustments where necessary. Teammates actually appreciate when leaders recognize that initial expectations need modified.

Yes I do think that offering a variety of rewards can be good, but I'd venture that the vast majority of employees would be most excited about a financial reward for their hard work.

Reward me can be a very powerful tool to enhance, loyalty, productivity and effort. Expected rewards based on conditional outcomes are great. For example, “when you accomplish this, you get that”. In addition, the random, unexpected reward can go even further. For example, “I don’t normally do this but because you did that, I want to give you this”.

When it comes to developing a rewards program, there should be intentional thought placed into determining how the rewards provided will speak to your individual employee's needs. This is not a one-size-fits- all approach and with 5 generations in the workplace, a variety award option will increase likelihood of you hitting the mark with your employees. For many employers reading this article, you might translate this to "breaking the bank". However, who says that rewards must be monetary. There are many surveys that support the notion that performance can be spurred by nonmonetary rewards.

Offering a variety of rewards means when there is no budget for monetary rewards you still have a way of recognizing and placing value on a job well done. In my previous experience, the Kudos platform was used for recognition. It had a leaderboard and points. You can recognize a team or individuals with the points for different achievements. This points have to be used up by the end of the month. You receive new points the following month to be used for recognition. And if you use up your points, there is a general recognition that you can also use. So you get to appreciate your colleagues irrespective. You can send a Kudo immediately to your team member, direct report or even an executive.

Finding ways to highlight your team's performance both internally and externally can add value in unanticipated ways. For example, perhaps you have a partnership with a communication group, and they have a marquee near the road. This would be a great opportunity to not only recognize your employee but also increase the visibility of your organization and its linkage to the partner organization.

Making it a point to reward your team members in a timely manner, goes hand in hand with seeking out performance to highlight early and often. For most organizations, their workforce is their primary asset which is even more reason to establish and maintaining a rewards system.

Mix it up a little! There are fun and creative ways to reward your team. For example: 1) Give them a personalized experience. This could be anything from tickets to a sporting event or concert to a gift certificate for a massage or spa treatment 2) Make it a team event. Instead of rewarding individual team members, plan a team-building activity that everyone can enjoy 3) Add an element of surprise. Don't just tell your team members what their reward is going to be. Instead, surprise them with it 4) Involve your team in the process. Ask your team members for their ideas and suggestions on how they would like to be rewarded. This will help to ensure that the rewards are something that everyone will appreciate and enjoy.

Foster a culture of collaboration shared accountability so team members enjoy an ongoing rewarding experience. Praise and encourage not just performance around work products, but the behaviors that benefit the team like engaging in and adhering to norms, co-elevation, knowledge sharing, asking for and receiving help, etc. It matters less who is offering the reward than how often team members are feeling rewarded for their efforts.