Holding on to talented and experienced employees is one of the strategic decisions of the human resource department. For an enterprise to remain relevant, it needs to have skilled employees who can make significant changes in finance, human resource, production, and accounting departments among others. However, companies have to implement various strategies to reward their employees and prevent them from being attracted by competitors in the same industry. Some of the creative approaches that companies can use to reward their employees have been discussed below.
1. Offering Paid Exotic Holidays
For your employee recognition in 2019, you can choose to offer paid exotic holidays to the best-performing employee. After working for twelve months without resting, it is time you appreciate an employee or a group of employees who have demonstrated skills, experience, expertise, and commitment in the organizational activities. You can provide free tickets and accommodation to the best performing workers so that they can have a feeling that the company appreciates their work. Giving them an opportunity to travel to the Caribbean or the East African Savannah will forever motivate them to work hard.
2. Work from Home
Another creating strategy that you can offer to your best performing working is giving them an opportunity to work from home. They can as well choose the place where they want to work. This helps them to change their normal environment and work in a place that is less formal and an area where they can get a cool breeze, especially if they are working while sitting on their balcony. This is an easy strategy because there are many mobile applications that can allow your employees to access various files that they may need while at home.
3. Holding Small Events
Holding small events at the workplace is a strategy that does not consume much money and time but which has a significant impact on employees’ morale. You can do this every time you think there is something to celebrate. For example, celebrating employees’ birthday in the company’s conference hall makes workers feel appreciated. You can also consider celebrating the company’s anniversary in the office with all the workers present. This will give them an opportunity to drink wine, enjoy the event, and enhance the sense of belonging.
4. Salary Increases
Salary increases remain to be one of the traditional methods of rewarding employees who have been performing well. Given that the goal of the company is to make profits, a considerable number of employees also want to make money. If the company does not appreciate the work that some of the workers have done to propel the company to a certain level, they will move to other organizations where they can get better pay. To avoid this problem, the company has to make sure that it increases the salaries of the employees who are considered as indispensable in the growth of the company.
5. Development Opportunities
Some of the workers working in your company are ambitious, and they want to move up into the management roles. Therefore, you need to provide development opportunities such as employee mentorship programs. Another development opportunity that can enhance employee retention is promoting from within. This gives hope to the workers who want to grow into managers that there is an opportunity for them to grow and achieve their goals while still working at the company.
As a human resource manager, you have to develop a reward program that focuses not only on retaining talented and experienced workers but also motivating them to continue producing. Rewarding employees only consumes few resources while employees sustain the company and enable it to record huge profits annually.