If you have small children, then you’re probably well aware of the rising costs in the tooth trade, aka the Tooth Fairy.
As reported on CNN.com today, “a 2006 survey of 150 mothers conducted by eBeanstalk.com, an online toy store, the Tooth Fairy is giving an average of $2.64, with 60 percent of respondents reporting that they give less than $3 per tooth.”
That average can be seriously thrown off when your kid comes home in tears from school one day because their best friend got $15 under their pillow for a tooth (one tooth, and it wasn’t even a molar!). What are you supposed to do then?
The same problem happens at work.
You reward Joe with a $20 gift certificate to Starbucks, and Sally with two movie tickets for their outstanding help with the company picnic. Sally feels unappreciated because she thinks movie tickets are a horrible reward compared to the fantastic Starbucks gift card in Joe’s pocket.
What are you to do?
Instead of throwing out an employee reward program all together, try a different approach.
One article I found at About.com outlines some useful rules for employee recognition and suggests that you allow employees to “draw” their reward from a gift box. All the items in the box have the same monetary value and there is no direct involvement of a supervisor.
And evidence shows that employee reward programs work, if implemented effectively.
Earlier this month Hay Group, a global management consulting firm, and Fortune magazine released their rankings on the most admired companies in America. A key factor of the admiration was that these companies do a better job of rewarding employees than those less admired.
“Implementation is really the primary differentiator between employee reward programs at companies on America’s Most Admired Companies list and their peers,” said a consultant from Hay Group.
It doesn’t take much to show a little employee recognition, but it sure can go a long way.
We would like to hear your suggestions. What’s the best way you’ve found to reward employees?
1 comment:
Have a look at http://corporate.redballoondays.com.au/
This company offers an online points system that allows employees to choose their own gift from their huge range of experiences!! It's very clever and very very effective!
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