How to Incentivise and Reward Improvements in Productivity

According to a survey, the average worker is productive for approximately 3 hours out of 8 working hours per day. Therefore, rewards and recognition are crucial instruments for boosting workplace productivity. Harvard Business Review stated that 82% of American's feel unappreciated for their work, while 40% of them admitted that they would put in more effort if a reward program was introduced. Here's how to implement a comprehensive reward and recognition program that can increase employee's productivity.

Ambiguous reward guidelines may create frustration among employees, thus impeding their general productivity. The best rewards programs should be clear about the judgement criteria such as the decision-makers in charge and the employees' eligibility to participate in the program.

You should also align rewards and recognition with employee's performance. By rewarding based on their performance data, they may feel empowered to become more productive. For instance, you can set out a reward program that highlights the top performers by giving them exclusive company merchandise.

Besides that, you can also offer a variety of unique rewards to incentivise your employees. Other than financial incentives, your employees may be looking for different rewards, such as a catered lunch or scheduling freedom. Ultimately, a rewards program should cater to your employee's wants that excites them to work more productively.

Typically, most companies focus on major accomplishments for their reward programs. However, the major successes are cumulative products from smaller achievements along the way. Hence, your reward programs should be tiered by offering perks throughout the life cycle of a project.

Finally, a comprehensive reward program should also include rewarding team efforts. Teamworks improves communication between team members and amplifies each individual's productivity. A team-based incentive should reward the entire group fairly and simultaneously, such as sponsoring a team outing of their choice.

Ultimately, rewards and recognition programs are an important initiative for employers and employees alike. Optimised reward programs can increase employee productivity and reduce turnover rates in a company.