It’s time to reward your employees
As the year is coming to an end, employees are eagerly anticipating their annual rewards and promotions. It’s a common feeling for many people at this time of the year. It’s the time of reward. However, it shouldn’t be this way as not all employees deserve to be promoted or rewarded. A reward is always given to high-performing employees or those who have performed outstandingly in the past year. As the saying goes, “No pain, no gain.”
Generally, employees undergo a year-end evaluation for their overall performance throughout the year. In some organisations, employees are evaluated twice a year: mid-year and year-end. It’s really good to have it this way as employees’ performance is monitored throughout the year and kept on track. Undoubtedly, this will urge them to work hard to improve their performance.
Let’s just highlight the meaning of promotion and why employees long for a reward during the lifespan of their employment. Promotion means getting a higher position, more responsibilities and an increase in pay.
Usually, it comes as one of the essential rights of employees working in any organisation around the world. Employees look for some kind of reward as a return and a motivation for excellence, hard work, achievements or completing certain years of service.
There are several reasons for promoting employees. Organisations have different policies and plans for promoting their staff. Among the common reasons is that employees are rewarded for their annual excellent performance and hard work in the past years.
On the other hand, some organisations promote their staff for their long years of service so they get motivated to deliver more.
Employees expect rewards and incentives such as increase in salary, bonus or a promotion from their employers. This will encourage employees to make their best efforts and dedicate much time so that they excel in their jobs.
Promotion is about promoting an employee from one position to a higher one in the same organisation. Such a scenario brings self-satisfaction among employees as well as help boost their self-confidence.
Otherwise, if a new candidate is hired for a vacant position, the other employees could be discouraged if not given an opportunity to apply for that position. Perhaps, they will be forced to leave the organisation for a better opportunity somewhere else. Sometimes, employees might feel their experience is undervalued and they are disrespected.
On top of all this, rewarding employees brings more value for both individuals as well as organisations. It stimulates the employees’ sense of loyalty and belonging to the organisations they work for. Promotion also ensures employees’ satisfaction and devotion towards their employers. It is a fact that satisfied employees will praise the employer and this helps attract talented candidates from the market.
When promotion is associated with more financial compensation and incentives, it certainly increases employees’ interest and productivity. For that reason, an employee will improve his/her performance and strives to contribute in achieving the organisation’s mission.
Implementing a clear promotion plan for employees is very important in any organisation. It always plays a significant role in employees’ career development, overall performance and satisfaction. It encourages employees to be more reliable and devoted to the employer. Promotion is every employee’s right. Therefore, promotion is a useful tool that employers should implement to operate the minds and spirits of their employees. Promotion is a wish of all and one, but it’s not everybody’s right to get it.