THE IMPORTANCE OF HAPPY EMPLOYEES
It doesn’t matter if you work for an innovative startup with 10 of your closest mates or for an international corporation with thousands of employees – in the long run every company knows about the powerful impact of happy team members. Various researches show that satisfied employees bring the best results with higher productivity, higher sales and more creativity within the team. This is not about simple employee motivation and having a good vibe in the office, the results show proves in actual numbers at the end of the year.
But where and how can a company support their employees to be happy? “Through rewards!” may be your first guess.
Before getting too detailed, we should differ two different types of employee activities that can be recognized and awarded: performance and behavior. The first one is the easier one to measure - with direct output. Team leaders can set initial goals than should be reached, and if the employee successfully works on the targets, a recognition will be handed over.
The second activity, behavior, is much more difficult to measure. A management needs to identify what kind of behavior they expect from their employees. This could be a philosophy of teamwork where more experienced team members support newcomers, even if this means that their work process continues a bit slower than usually. Or it could also mean that a certain engagement gets rewarded, where employees with innovative ideas get positive feedback. In the end, each company needs to think of a suitable reward system, based on one or several columns such as compensation, benefits, recognition, appreciation.
THE WIDE FIELD OF COMPENSATION
The probably easiest way for companies to pay respect to their employees is financial compensation, a bonus or a simple raise of the salary. There is nothing wrong with that, as rarely anybody is willing to work for free. But statistics show that rewards in the shape of benefits or personal appreciation are just as important to create a good work ambiance and result in happy employees – somebody who is more loyal to the company and more willing to take over a bigger workload.
The field of company benefits seem almost endless – and they are more popular than ever: open offices with flexible working hours, free food, team activities and even weekend trips. These benefits are definitely getting more popular and especially young employees look forward to a fun mix of private and business entertainment.
As a human instinct, recognition and appreciation are probably the most human rewards an employee can wish for. This can happen by a simple chat at the employees’ desk, thanking for the many worked hours, even if the project is not finished yet. A step further would be declaring in front of other colleagues the impact a colleague had on a specific meeting or the decision of a client to keep business relations with the company.
So what do all these metrics have in common? It is the idea of a well working internal reward system. It should be strategic and suitable for your company. It should be easily comprehensible for your employees in order to offer a tool that makes your reward system more transparent and hence more accepted.
"Together" with EKO
Besides being a collaborative tool for internal communication, Eko’s strength is to offer the “Together System”. It works by three simple steps: First, you have to choose the behaviors you want to reward. These goals should be determined in a second step by rewards and recognition. As a third step, you can already get going and increase the productivity of your team! So, what are you waiting for?