Why rewards and benefits are a necessity in every workplace
We often hear from business owners, “shouldn’t my employees be satisfied with their salary? They don’t need rewards and benefits”. And to this we say, you’re thinking about it the wrong way.
A salary is what gets people to show up and complete the bare minimum of their workload. But what pushes them to work through roadblocks, to keep going during stressful periods, and to aim higher for themselves and your business? That’s where rewards and benefits come in.
There are natural highs and lows of motivation for both the individual and the wider team. Group events such as hitting a target, or personal events such as mastering a new skill, can inject a boost of good vibes to the business and drive performance. The lows come when targets feel unattainable, aren’t hit, and there’s a lack of personal wins driving individual employees.
Add to this major influences such as the wider market conditions, the introduction of new staff members (including leadership changes!), or little things like a global pandemic.