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#1 2018-01-22 08:48:06

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I've discussed the importance of being connected for employees in previous articles. Today http://www.lionsfansproshop.com/Lions+M … l?cat=1307 , let's talk about how the smaller retailer can recognize and reward employees without high expenses.

Employees these days put a top priority on these two aspects of their jobs:

To feel a sense of "Connection" with the store, team and company.
To be recognized and appreciated for their initiative hard work and contribution to the store and team


In fact, surveys of hundreds of retail employees reveals that compensation is a distant number 5 behind these two top priorities in the career of a retail employee.

Firstly http://www.lionsfansproshop.com/Lions+K … l?cat=1334 , limit cash rewards to annual performance reviews by way of a bonus plan. The bonus plan should be directly linked to the financial performance of the store. I'll talk more about that in a future article.

Develop a rewards program for your store that frequently recognizes good work and solid contributions with simplicity as the focal point. Consider these ideas as you develop your program:



Offer job enrichment and higher responsibilities
Create a bulletin board in the staff area where messages of praise can be posted for all team members to see
Offer some prizes on a quarterly basis for the most consistent contributor above their basic responsibilities.
Prizes should ideally be something that an employee can share with a spouse or friend. Then both can share and enjoy the reward. A dinner for two, tickets to the theatre or a ball game are good examples of simple rewards that can be shared.
Preferred time of or time off with pay. Consider giving a paid day off before or after a long weekend and give the employee a mini holiday, 4 days off straight
For multi-location companies a newsletter is a great place to inform everyone of a job well done by superlative employees
Consider creating an Employee of the Month reward with a preferred parking spot or similar reward
Create special reward pins for top performers that can be worn with pride
Offer additional training either in house or formal educational training for those that have delivered stellar performance
Lastly http://www.lionsfansproshop.com/Lions+K … l?cat=1314 , giving a promotion of course is one of the greatest ways to recognize top performance as you build your organization. Employees that work within a culture that sees the opportunities to receive an internal promotion will be more loyal and strive for excellence in performance.



Take Action Today

Develop a modest budget for a rewards and recognition program.
Create rewards and the criteria for receiving them. Your criteria should be objective and fair for everyone.
Announce the rewards program to the team and explain the criteria to everyone.
Discuss and deliver rewards on a regular basis. Even small rewards can be announced and issued on a weekly basis.
Make recognition and rewards part of your organization's culture.
Make major rewards activities that can be shared by a spouse or friend.
Author's Resource Box

Ron Pawlowski is a Managing
Partner at The Retail Institute.

The Retail Institute is dedicated to support of the small to medium retailer through timely informative articles as well as affordable retail support products.

The Retail Institute offers a number of well priced manuals, forms and systems for single location and multi-locatiom retailers.

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