Employee Rewards: How to Evaluate Performance & Encourage Better Work

employee rewards

Gabe Nelson is a content specialist of over 7 years of experience, currently working with bonus.ly. He has a passion and keen understanding when it comes to HR and employee management. He has written hundreds of content pieces in numerous niches. Currently, he lives in Missouri with his wife and kids.

Your employees are the lifeblood of your business. They provide the support and manpower you need to function and grow. The level of success and the results you achieve will directly reflect the performance of your employees.

Satisfied employees are also more productive and efficient. However, a study showed that as much as 85% of employees are happy with their jobs and only 15% of employees are engaged in the workplace. Happy and engaged workers are more likely to feel personally invested in your business, leading them to work harder and smarter; this results in better products and more satisfied customers.

It’s also vital that employees know where they stand. Not receiving a promotion or a much-anticipated raise because of performance shouldn’t be a surprise to them. Conversely, they should also receive positive feedback for a job well done to keep them moving on the right track; this means that evaluating employees’ performance is an essential role of leadership.

So how do you guarantee an employee’s role is as fulfilling as possible? And how do you communicate how well they are doing in their roles?

In his Process Street article, we’ll be covering:

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Reduce Employee Turnover by 63% Using Employee Acknowledgment

Employee Acknowledgment

This is a guest post by Katerina Mery, a marketing specialist at Fond. Fond is a rewards and recognition company dedicated to building places where employees love to work. Mery authors articles about how to leverage recognition programs to drive company success.

Think back to the last time a colleague acknowledged you for a job well done.

How did you feel?

Did the experience have an impact on your behavior moving forward? Did the exchange affect your relationship with the person thanking you? What about your relationship with the company in general?

63% of employees who are acknowledged for the work they do are unlikely to look for a new job. Expressing gratitude at work takes relatively little effort, but it can create an incredibly memorable professional experience. Knowing that you did a good job is one thing, having a colleague call out your great work takes the experience to another level.

Business objectives can sometimes feel at odds with an enjoyable employee experience. Employee acknowledgment, however, is a practice that effortlessly supports both.

From this Process Street article, you’ll learn how employee acknowledgment simultaneously caters to your organization’s business objectives. You’ll also learn how to meet the emotional needs of your employees using fantastic positive feedback loops that generate continual improvements across the board.

We say employee acknowledgment is a smart initiative a company can adopt – but before you take our word for it, allow us to explain why.

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