At the start of the month we covered the topic of Culture and its importance within an organisation, so I thought we would keep with the theme, and elaborate more about the 5 ideas I shared around developing a good culture. Let’s start with Rewards…
Working in a sales driven environment, I know from firsthand experience, that rewards can be a very effective tool to incentivise, promote good behaviour and drive results. Employee rewards can generate healthy competition between individuals and or teams. If a few employees receive incentives based on individual or group performance, this can drive the others in the team to achieve the same or higher, conversely it can also have a negative effect if only the sales employees are incentivised and not the other employees, like admin or operational staff that have just as much a contribution to the business. Finding a happy medium to reward all staff for their contributions is the ideal approach, remembering that your end goal is to have happy employees.
Rewarding your employees, doesn’t necessarily mean it has to be monetary one, some employers are cautious about spending money without seeing a tangible return for their investment, but fail to realise, that employee happiness and morale whilst not tangible equates to so much more in return… besides rewards can be both monetary and non-monetary, depending on the type of work, the environment or the individual, and often non-monetary rewards can be far more desirable and coveted than a monetary one, so it’s important to determine the appropriate reward for the individual or team.
Typically sales people prefer the monetary reward, so you would design some sort of commission or bonus structure to suite them while the admin or operational staff for example might prefer flexible working hours, time off, additional annual leave, training and development… there’s a plethora of options available.
How does this contribute to good culture you ask? Well as I eluded to, in my earlier blog, Good Culture = Happy Employees = Successful Business if Happy Employees is one of the key factors that influences Good Culture, then it’s safe to say that rewarding employees will most often result in Happy Employees which in in-turn leads to Good Culture.