Reward and Retain Your Best Team Members

from daveramsey.com on 13 Oct 2011
 

Too many businesses view their relationships with employees as a one-way street. Hire a new team member, train him, sit him in a desk, give him a computer, and check back in at annual review time.

Meanwhile, this new team member comes into work every day, does his job (and then some), works well with everyone else on the team, and meets deadlines. For all that work, he’s given a nice paycheck. And, for that, he’s thankful.

But every once a while, he wishes for a good old “‘attaboy” from the boss man. Maybe a handshake, a pat on the back, or a lunch on the house.

But the boss man is too busy to take a few minutes and encourage his team members. Eventually, the job stress and lack of recognition wears on them, and their productivity fizzles. They either burn out and quit or slowly deteriorate into someone who just shows up for a paycheck and halfheartedly does his job.

The key to retaining those team members you work so hard to hire is to simply recognize them for the effort they put in every day. Sure, that paycheck is one big “thank you.” But, without some type of recognition from management, the team feels like their work goes unnoticed.

The longer a team member has worked for you, the more effort you should put into recognizing them. This goes beyond a simple pat on the back.

At Dave Ramsey's office, new team members agree to a 90-day trial period. If things don't work out between the company and the team member, the parties are free to part ways. As team members work longer at the company, the commitment to each other becomes stronger.

A few years ago, Dave recognized his first hire by naming the new Financial Peace Conference Center after him. You may not be able to name a room after one of your veteran team members, but you can still get creative.

Here are just a few ideas:

  • Give them a trip or vacation.
  • Award them their own designated parking spot.
  • Have a party and make them the guest of honor.
  • Create a plaque for them, and put it on your wall of fame.
  • Purchase a memorable, nice decoration for their office.

The ideas are only limited by your imagination.

But no matter which method you use, it’s always a nice gesture to reward your team members, especially those who have been with you for many years. They will appreciate your grateful attitude. Plus, it will serve as an incentive to newer workers.

Don’t let your workplace environment and productivity deteriorate simply because you failed to say thank you every now and then. Reward your team members, and your business will thank you.

Financially secure employees have a positive outlook on life and perform better at work—saving you thousands of dollars in productivity, absenteeism and retention. Dave Ramsey's CORE Financial Wellness trains your employees to take control of their greatest wealth-building tool: their income.Change the culture of your company by bringing CORE Financial Wellness to your team today.

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