Welcome to yet another article in Effective Leadership series. A good team comprises of different categories of staff members. The performance of the staff members can also differ from time to time. There can even be consistently good performers on the team. In order to maintain their consistency, it is important to reward them well. A good rewarding system is the only way by which an organization can keep the staff members motivated. There are some extreme cases where the staff members get self-motivated and become good performers irrespective of them being rewarded or not, but in an ideal world, only a good rewarding system will make the employees feel comfortable to work in a company. There are several ways in which rewards can be distributed to the staff members. In this article, we will explore the importance of rewarding individual staff members and the different ways in which the reward can be given to the team members.
Usually, rewards are focussed on people who are exceptional in doing their work. If there are consistently good performers on the team, there should be a proper reward system in place to recognize the staff member at the right time. The rewarding system doesn't usually stop with just recognition and appreciation alone. There will also be monitory benefits to the staff members if applicable. Rewards usually take different forms and it even differs from company to company. Most of the commonly seen rewards include the following:
- Pay Hike
- Performance bonus
- Profit-sharing schemes
- Distributing company shares
- Gifts and prizes
- Holiday packages
- Ownership sharing
The above-mentioned rewards include both monitory benefit schemes as well as non-monitory benefit schemes. Every time when an employee is selected as the best performer of the year, the expectation of that particular staff member increases. Just because they have proved their capabilities, the organization will expect more from them. Even though they perform well next year similar to that of the previous year, if it is not exceptional, they will be treated as an average performer only. The objective of the rewarding scheme is to keep the employees motivated and make them perform even better in the coming years.
Good leadership never fails to recognize the team member's efforts. If the final output is a success, the contribution comes from every individual on the team. Without the hard work of every team member, the success would have not been a possibility at all. In such cases, a good leader should always value the staff member's contributions to the teams. If there was a good financial reward for the efforts taken by the team members, the leader and the company should be able to reward the team members financially as they deserve to enjoy the fruit from their efforts. In some companies, even the team members can be called for a discussion to decide how the bonus payments should be distributed. It may not work on all company structures but if the leader is comfortable to do that, it can very well work.
A manager and the leader of the team should be able to solve the conflicts that happen inside the team. If one employee on the team is satisfied and if another is not satisfied, the dissatisfaction will not help the employee do teamwork. This will not only affect an individual in the team but the whole team's productivity. If there is no transparency in the process, even the other staff members on the team will not find it comfortable to work as a team. Even though a leader will have lots of challenges in fulfilling all the needs of the team members, it is quite difficult to expect that all the team members will be happy. It is the responsibility of a leader to handle the situation inside the team. If you have taken a decision to reward the associates in a pattern based on their performance, then you should have strong points in your side to back up what you have done. It is also important that a leader should be very frank with the staff members and should be able to explain their decisions and they have to stay firm in their decisions with proper reasoning. If a leader is transparent and honest with the team members, the team members will really understand the situation and continue to put their hard efforts.
Announcing the rewards
When the leadership team decides to reward the staff members, there should be a proper announcement made. If only a few of the associates are going to be rewarded, the leadership team should also be ready with the justification on why they are being rewarded irrespective of having lots of hard working staff members in the team. A clear announcement will always give good clarity to all the individuals on the team. If there are dis-satisfied staff members in the team, an effective leader should have one on one meeting with the staff member to clarify their questions and confusions. This will help the staff member get some clarity and adds more motivation to do hard work. If things are not cleared properly, there is a high possibility that the productivity of the team can get affected.
The reward announcement can either happen through an official announcement during all hands meet or can be sent out to all the staff members as an email communication. If a leader is planning to reward only a few staff members, they can be frank with the team and provide proper justification for why only a few selected members are rewarded. This will remove congestion and confusion from the mind of non-rewarded staff members.
Posted from my blog with SteemPress : http://bala-blog.com/effective-leadership-26-rewarding-staff-members/