Afraid of losing your star employees to the competition? Instead of worrying yourself to death, start recognizing and rewarding high performers in your team for their brilliant work. Watch the video to learn more!
Why You Need to Recognize High Performing Consultants?
Creating a culture of recognition is one of the most vital strategies that a business can adopt to ensure employees are happy and motivated. It is also a sign of effective management because it means that the higher-ups value work ethic and performance. If your business is highly competitive, there needs to be a reward system in place. That is one of the major reasons why you need to recognize high performing consultants.
High performing consultants are the backbone of an IT consultancy business. When they perform well, they drive in good sales for the team. There is always a challenge that consultants have to face. But when they are able to consistently hit their metrics, it means they’ve overcome those challenges. This deserves a reward!
Rewards can come in many forms. But sometimes, it feels better when they’re recognized in ways that aren’t just monetary, even though some would argue that it’s the best one. You can even praise high performing consultants during team meetings. Others might even want to be called ‘employee of the month!’ Recognition is endless.
When Should You Recognize Employees?
So when should you recognize the performance of your employees? That depends on the metrics that you have set for the team. You can give out compensation on a monthly, quarterly or annual basis. This always ensures that your team has something to look forward to.
You can recognize your employees for things such as:
- Exceeding expectations
- Adopting desired behaviors
- Consistently hitting metrics
These are usually the best time to recognize the efforts of employees.
A Double-Edged Sword
When you don’t recognize high performing consultants, you risk the chance of losing them to other companies. However, there’s also a risk that you have to consider as well. When the people in your team are constantly praised and applauded, they might end up becoming conceited and spoiled.
It’s not that far-fetched to imagine a situation like that. When you create egotistical team members, it becomes difficult for the others to work with them. This will create more problems in the future, leading to a decrease in performance.
That’s why employee recognition can be a double-edged sword. It becomes a strategy where you have to carefully balance rewards with your team. You have to use the reward or recognition system in a way that motivates your employees but doesn’t spoil them. That’s why it’s important to know why you need to recognize high performing consultants.
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When creating a strategic recognition, it is important to know how to create the perfect one for your business. After all, recognition is not just about giving your employees a pat on the back. Sometimes, words are not enough. People should be compensated correctly. In order to do so, you need to understand the factors behind strategic recognition.
Here is what strategic recognition looks like:
- Specifics are important
Knowing the specifics is one of the most important tasks you have to consider. The strategy itself must be deliberate, relevant and specific. When giving recognition to the high performing consultants, it’s crucial that you make it personal. This makes the praise more meaningful, ensuring that your employees feel taken care of. When you refer to the specifics of a task, it means that you’ve been paying more attention. This will keep the team on their toes and will make them harder in front of you.
- Different strokes for different folks
Do you know how the saying goes? Different strokes for different folks mean that each person wants to receive praise or recognition differently. Some people would prefer having words of encouragement from their bosses. Others would want to be compensated through gifts or coupons. The majority would want to have money instead. Because of this, it’s important to know your team well so that you can provide for them.
For many companies and organizations, it’s crucial that employees take the DISC or 16 personalities test. This is very telling on their personalities and how they are motivated. Through these simple tests, people can understand each other better. It gives good insight on the team.
Transparent Reward Mechanism
You might be asking yourself what the transparent reward mechanism is. It’s easy. It’s basically a system that enables the staff to know their rate of pay and the mechanism on how to get it. This minimizes uncertainty and unfairness because everybody is aware of how the system works. It also reduces the possibility of unfair pay, making the working environment both fun and fair.
The recognition or reward system must be clear and concise for the employees. This allows them to strive harder for exceptional performance. And when they reach the designated goals, the reward should be given without question. So when your high performing consultants qualify for a raise or a promotion, don’t delay it any longer.
If you do, it becomes a reason for them to leave your business.
At the end of the day, employee recognition is one of the most crucial strategies to adopt in a business. Humans strive for recognition for majority of their lives. This continues on even in the workplace. Not only does it encourage high performance in the team but it also retains top talent and increases employee engagement.
The reason why you need to recognize high performing consultants isn’t purely for the team members. It’s also for the entire business. Because when one member performs well, everybody does too. And it doesn’t necessarily mean that you can praise one person at a time. You can praise an entire team or even an entire department. There are no limits to gratitude.
But remember, it’s important to have rules and regulations in place. Before creating a transparent and strategic recognition system, make sure to know what everybody wants. This creates a fun and dynamic place to work in where both employee and employer benefit from one another. To get the most out of it, get assistance from Loading Growth to get started!