When typical organizational rewards fail, it might be time to consider power rewards.
Power rewards are rewards given to employees that really motivate because they make people feel special and energized. In every work, a power reward added makes the pleasure twice as great.
What are power rewards?
Power rewards are rewards that give employees a sense of control and autonomy over their work. These rewards can be more effective than traditional monetary rewards in motivating employees because they appeal to employees’ intrinsic needs, such as the need to feel valued and respected.
Here are some examples of power rewards in business motivation.
Examples of power rewards
Power rewards strategies in a business organization might include the following aspects:
- Giving employees the opportunity to choose their own projects. This shows employees that you trust them and that you value their input.
- Allowing employees to work from home or have a flexible schedule. This gives employees more control over their work-life balance and can lead to increased productivity and engagement.
- Providing employees with opportunities for professional development and growth. This shows employees that you are invested in their success and that you want them to reach their full potential.
- Recognizing and rewarding employees for their contributions. This shows employees that you appreciate their hard work and that you value their contributions to the team.
- Giving employees the opportunity to participate in decision-making. This shows employees that you value their opinions and that you want them to be involved in the success of the company.
How to make power rewards effective?
Here are some tips for using power rewards effectively:
- Make sure the rewards are aligned with your business goals. What are you trying to achieve by motivating your employees? Once you know your goals, you can choose rewards that will help you achieve them.
- Tailor the rewards to the individual employee. Reduce entitlements by linking rewards to performance. What motivates one employee may not motivate another. Take the time to learn about your employees’ individual needs and preferences.
- Be consistent with your rewards. Employees should know what to expect and when to expect it. If you are inconsistent with your rewards, employees will be less likely to be motivated by them. Increase longevity of rewards.
- Recognize and reward employees promptly. Reward promptly. Do not wait until the end of the year to recognize and reward your employees for their hard work. When employees are recognized and rewarded promptly, they are more likely to feel valued and appreciated.
- Do not overly depend upon money. Diagnose whether your reward system really rewards what you want. Build recognition value into rewards. Give employees a choice of rewards. Try to remove any demotivators that limit power rewards.
In summary, power rewards can be a powerful tool for motivating employees and improving business performance. By using power rewards effectively, you can create a more engaged and productive workforce.
