Innovate and Appreciate your team members

In many scenarios reward and recognition play a vital role in retaining good team members. But we do not innovate while appreciating in these modern times.

For many managers reward and recognition is still a challenge as it does not come inherently.

Only those managers who are cautious about rewards and recognition and there is a strong HR team who play a vital role in creating awareness about it will use its benefits.

In this blog, I will provide a few innovative ideas that Managers can adopt with support from the HR team to align with the new-age tech industry.

These ideas make reward and recognition fun and useful for your team members.

5 Reward options

Here are 5 options I recommend exploring with HR for making rewarding fun and effective for your team members.

◆ Option#1: Digital Badges
Digital badges are virtual representations of achievements within the team.

These achievements could be
- completion of a goal,
- proof-of-concepts,
- completion of a complex project,
and so on.

These badges can be displayed on employee profiles, or social media platforms, allowing individuals to showcase their expertise and accomplishments.

Unlike traditional forms of recognition, such as certificates, digital badges are easily shareable and can be displayed across various online platforms.

In the modern world digital badges play a valuable role by providing a flexible, accessible, and visually appealing way to recognize and reward employee achievements.

◆ Option#2: Virtual currencies
Virtual currencies are digital tokens or credits that can be awarded to employees as a form of recognition for their contributions.

Virtual currencies give employees a tangible and immediate reward for their efforts, fostering appreciation and motivation.

Employees can accumulate virtual currency over time and redeem it for a range of merchandise, or experiences.

One of the advantages of virtual currencies is their ability to be easily distributed and tracked within a digital platform, simplifying the reward process for employers.

The other advantage of virtual currencies is they can be used to recognize individual achievements and team accomplishments, fostering a culture of appreciation and recognition.

◆ Option#3: Wellness Activities
Wellness activities can be integrated into a reward and recognition program by offering employees opportunities to participate in yoga classes, meditation sessions, mindfulness workshops, etc.

Recognizing employees with wellness activities promotes physical health and supports mental well-being, contributing to a positive and productive work environment.

Recognizing employees with wellness activities demonstrates a commitment to their holistic well-being, fostering loyalty, satisfaction, and retention within the organization.

Wellness-focused rewards can be tailored to meet the diverse needs of employees, ensuring that everyone has access to activities that resonate with them.

◆ Option#4: Leaderboards
Leaderboards create a sense of healthy competition and motivation among employees.

Leaderboards can help to track various metrics, project milestones, or key performance indicators (KPIs), allowing tailored recognition based on specific goals.

Employees who rank highly on leaderboards can be rewarded with incentives as a form of recognition for their efforts.

In addition to individual performance, leaderboards can highlight team achievements, promoting collaboration within the organization.

Leaderboards serve as a visual representation of success, inspiring employees to strive for excellence and reach their full potential.

Recognizing employees through leaderboards reinforces desired behaviors and values, reinforcing a culture of performance and excellence.

◆ Option#5: Online Course
Offering online courses as a reward provides employees with a valuable opportunity for professional development and skill enhancement.

Online courses can cover a wide range of topics, including technical skills, leadership development, project management, and industry-specific knowledge.

Employees who complete online courses can apply their new skills and knowledge to their work, contributing to improved performance and productivity.

Recognizing employees with online courses encourages them to take ownership of their career development and pursue learning opportunities that align with their interests and goals.

The right way to give rewards

It is important to make sure the rewards are provided in the right way.

The reward loses its value if not done right.

So here are a few things to keep in mind while giving rewards.

▸ Carry out within a day
If you want to show appreciation for your team member, aim to do so within a day of the event or milestone deserving of recognition.

If it is more than a day then the effect of the reward will be relatively low.

▸ Reason behind rewarding
The details about why the reward is awarded should be mentioned.

If not, the team member will feel a reward is given for the namesake.

So to avoid doubts in your team members' minds about the reward, it is always good to detail the reason behind it.

▸ Announcement in official channels
Publically announcing it on the official channel will make team members proud of their work.

Since many other folks will also congratulate on the reward, it creates a sense of belongingness.

Final Thoughts

For a manager reward and recognition will play a vital role in retaining talent, motivating, and boosting the team’s morale.

By adopting rewards and recognition, managers can consistently improve the team performance due to higher motivation levels.

The program also helps encourage the team members to take ownership and become accountable for the outcomes.

In turn helps, managers to achieve team goals efficiently and influence the organization’s growth.

So managers, consider discussing with the HR team to explore new ways to reward and recognize your team members.

Further reading

• Fundamentals of forming a team
• How to convince Senior management
• How to create a self-sufficient team
• Free Udemy Course: New Manager - Learn to become successful