Every organization has its ups and downs, whether brought on by fluctuations in the economy, its specific market or successes and challenges in-house.
Every organization has its ups and downs, whether brought on by fluctuations in the economy, its specific market or successes and challenges in-house. Sometimes, downsizing, internal struggles, profit loss and other issues can take a heavy beating on employee morale and lead to turnover rates that spiral out of control. At moments like these, implementing a reward and recognition program probably isn't the first thought that comes to leaders' minds. However, such strategies can help companies re-energize their staff, retain talent and overcome their hurdles – and they don't even have to spend that much.
Worker dissatisfaction is often fueled by not feeling appreciated. In addition, the sense that their jobs might not be secure could cause employees to start looking elsewhere for work. Therefore, it's more important than ever to boost engagement and recognize team members for their contributions during times that are particularly difficult.
Additionally, tactics such as sales incentive programs can give staff members the extra motivation they need to meet quotas and help companies through their struggles. Simple rewards such as music, books, travel arrangements or movies serve as a meaningful acknowledgement of work well done, demonstrating to employees how much they're valued within the company.