So, you’ve had an excellent first quarter. You’ve hit sales targets, your team has surpassed expectations, and you want to reward your employees for their hard work. But how do you celebrate their achievements?
A trip to the pub on a Friday evening is likely the ‘traditional’ response to a productive quarter. But does this really reflect your company and its culture? Perhaps it’s time to rethink tired workplace tropes. Here's our advice on how to celebrate with your employees.
Experience over Money
In general, experiences are worth far more than money. They’re memorable, they have a lasting legacy, and they’re more beneficial in terms of employee satisfaction. A night drinking at the pub on the company’s expense leaves a bad hangover, and perhaps embarrassing memories, too. Plus, less and less people are drinking these days, so this type of perk may not suit your employees.
But a team building event, or a relevant industry specific conference, or perhaps something truly different like white water rafting, marks your company out as innovative, thoughtful, and unique.
Think outside of the box, and find an experience that will truly add value to your employees’ lives and career goals, just as their success has added value to your business.
Individual Vs. Collective Success
This awkward scenario is likely a familiar one; some members of your team have performed exceptionally, but others haven’t. What do you do? Do you all still celebrate as a team? Or do you only reward the employees who have done well.
The question is best answered by considering your company culture. Are you individually focused, or are you a team-led organisation? If you're individually focussed, take the top performing employees out for a champion's lunch or provide them with recognition awards - and leave the lower performing ones at the office. But if you're team-led, take everyone out for a shared reward.
Consult your company's values and stick to them. Think about what kind of legacy your actions will have, and whether everyone should be rewarded for the successes of the few.
What Rewards and Incentives Should You Offer?
Some companies, like Netflix and Weebly, don’t measure employee successes via traditional means. They don’t have set office hours, meaning that productivity is judged by what’s achieved, rather than the time spent. This is likely a strategy that would appeal to younger talent, specifically millennials who desire the best possible work/life balance.
Google, a long-time favourite example of aspirational places to work, offers a wide range of benefits to its employees. From travel insurance to funded educational programs, the tech company provides its employees with plenty of perks to keep them happy and on the side.
Perks and incentives can cover a wide range of things that employees want and need, including:
- Health Care
- Working from Home
- Flexible Hours
- Half-Day Fridays
- Pet Insurance
- Free Coffee
- Free Lunches
At the end of Q1, it’s worth thinking about how much you invest in your employees. They’re your future, and innovative and forward-thinking perks and incentives show them that you care about their happiness and their career trajectory.
Celebrating with your employees is one of the best ways to create a winning culture at your agency. If you want to build a culture that breeds success, our eBook has everything you need to know:
Wendy McDougall is Chief Fish of Firefish Software. In her spare time, you'll find her playing squash or feeding her inner geek with the latest technology!