Are Promotions Not Enough for Employees?

Promotions are a great way to acknowledge the exemplary work ethic allocated by an employee, but as we discussed before, the newer set of employees of this generation expect more than a promotion. To keep them engaged and consistent with quality work, your business/company must be able to provide perks and benefits apart from an increase in their pay.

Plus, this initiative can alleviate the budgeting and financing aspect of your business as promotions will be a secondary consideration. That isn’t to say an employee doesn’t deserve an increase, we are simply suggesting other strategies to appreciate their productivity! HRMatrix wants to keep your company more than afloat. We strive for you to be ahead of the game so that you may break the threshold of your business’s potential and reach higher pinnacles of success. 

Firstly, acknowledging an employee’s great work ethic should never be undermined. Since Generation Z entered has entered the workforce, procedures and priorities have shifted to accommodate mental health and overall wellbeing. We are suggesting that you implement benefits that help employees as a people. Money is not always the answer! While an employee of any generation would appreciate a well-earned promotion, sometimes a category of benefits to choose from will help you gain whether an employee has earned a promotion or a benefit. 

Employee rewards and discounts are a great way to show that you appreciate how hard they work. Developing a personalized experience or gift can help build an interpersonal relationship with them, increasing their chances to work harder. Rewards are a step-by-step process and the top reward should be a promotion. This is the best way to implement a reward and appreciation system. Gift cards, personalized items, gift baskets are kind gesture that displays your gratitude. 

Investing in their skills is helping them increase their chances of earning a promotion within their respective department. This is a unique gesture and rewarding gesture on both ends! Providing them a class that increases their skills or activities that strengthen their strengths is a way to hint that an employee is continuing on the right track. You should communicate though that they are on their way to a promotion. Otherwise, it might be perceived as a nudge towards much-needed improvement. 

On the subject of communication, it is wise of you to share your vocational journey and your professional experiences to help motivate your employees and strengthen that very necessary, beneficial work-related relationship. Your employees will surely appreciate the refreshing perspective and even vulnerability of the attempt to share yourself. 

Offer time off. Moving on from smaller rewards, let’s focus on rewards that are more valued or appreciated. Offering time off for employees who put in extra hours is a great way of validating hard work. Employees compromising their weekend for projects is commendable, so reward them! Maybe let them take off a couple hours early to jump-start their weekend or offer an extra day.

A public thank you is casual, but it makes the day better for your employee. They will take it as a green-light signal and continue with genuine consistency while also confirming their idea of you as a manager. Even in a generalized instance that addresses the entire staff, this provides a positive impact. It’s just a little gesture that makes your and your branch’s day brighter.