28 Feb Rewarding your team and cultivating excellence
Compensation is important for employees, but after an initial hire the source of motivation tends to shift. While financially rewarding high-performing employees is important, there are other ways to retain your best team members. Your company’s culture is critically important. As a leader, it’s up to you to how you define it. Here at Scheer Partners, we cultivate an enthusiastic, can-do attitude and believe anything is possible.
After 25 years in business, and having attracted and retained some amazing, top-level talent, we’re offering our top five ways to cultivate a ‘performance culture’:
Sure, you can offer ancillary benefits like extra life insurance, additional health benefits like vision or dental, or even gym memberships. Or, you could go the extra mile and tailor incentives for each employee. For example, did someone recently get married? An extra week vacation could provide the time needed for a honeymoon.
No one likes to feel stuck. Research shows that employees who don’t feel like your company offers attractive career opportunities tend to leave. Make sure you have regular career planning discussions, then ensure your employees know about opportunities within your company.
There’s an old saying that someone who feels appreciated will always do more than expected. Achievement and recognition are high motivators, so take the time to publicly recognize and reward employees. Simple things like a prime parking space, a new title or even an extra day off can go a long way.
Set a good example for your team – and, set the tone. Never underestimate the power of walking into the office with a smile, and remembering to say ‘thank you.’ Employees rarely leave solely over money – often, it’s because they don’t like their boss. Having a positive work culture helps a lot, and encourages teamwork and communication.
Benefits like clear and frequent communication with your team make all the difference in employee happiness. Keep your team informed on company happenings and big-picture direction. And don’t forget two-way communication – offer opportunities for feedback, idea sharing and collaborative conversation.
At Scheer Partners, it’s important for us to create an environment that cultivates performance among our team and we try to incorporate all these ideas into our culture. That philosophy guided our recent office move which incorporated many features to improve the work environment for our team. If you’re looking for new space, please contact us.