People Respond When Rewards Are Personal
Time to rethink how you reward your bestHow long is a “bonus” meaningful?
Make it Mean something
Our Vistage group recently welcomed the sublime Steve Heroux, owner of Victory Selling.
Steve made an excellent point about rewarding your best staff members. Cash bonuses tend to be meaningful (unless there are extraordinary circumstances) until they are co-mingled in the employee’s bank account. In other words, once it is in the bank (or once it’s spent), the “bonus” that says “You are special” loses its impact.
Do It Differently
One of our members took Steve’s lesson to heart.
He had an excellent employee who loves mountain biking. It is his hobby, his passion and takes up most of his free time. Our member made up a ruse to take this employee to a local bike shop. Once there, he put his pre-arranged plan into motion. The bike shop employees were in on it. He told the employee the real reason he was there and gave him a generous spending limit and told him to pick out whatever bike he wanted.
For another great employee, a single mom with a couple of teenagers, he bought two-day Disneyland passes and a night in a Disneyland hotel.
Both employees were shocked. The mom was especially emotional. Don’t you think those two stories spread through the company like wildfire?
This is employee recognition with impact. Those two employees were stellar in 2021. How much better will they be in 2022.
And what effect will this simple act have on recruitment?
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