Plus, with so much competition out there for elite talent, the only way to keep workers on the team and happy is by putting forth a little effort.
But if you’re a small company, you might be tempted to think that you simply can’t handle it. If you want to do it well, you think, you have to dedicate a lot.
In spite of this, the return on your investment could be huge. Even a little bit of appreciation can go a long way.
But that doesn’t take into account the reality that your resources are limited. Even if you know you should, it’s difficult to see how you could. There are big hurdles in the way of your team implementing a structured employee rewards program.
Hurdle #1: Time
This is the biggest one of them all.
On an average day, how much of your time is claimed? You don’t have hours every week to dedicate to this new activity, do you?
You’re not alone. Most business owners are stretched far past their ability, but they keep going because they have to. Putting in an employee rewards program might be considered an unwise use of your time.
Even if you already know that the return on your investment would be huge, you still only have so many hours in the day – if those hours are claimed, you don’t have a chance of building an employee rewards program, right?
Hurdle #2: Money
Your budget is tight. Your team is barely making their sales quotas. You have no funding to draw from.
There are structured employee rewards programs that can cost quite a bit. And if you don’t know whether or not they are a good fit for your team, that cost can seem even more daunting.
You don’t make business decisions without knowing the clear costs of implementing the decision and the potential for return on that investment, right? So why would you just throw money at a solution with no understanding of what kind of return you expect to get?
Hurdle #3: Ongoing resources
Even if you could afford it, the ongoing management of that rewards system will wind up being another big commitment.
You might not have the staff necessary to manage the rewards program and distribute rewards properly. This is an ongoing job requiring regular checking in, monitoring, and measuring.
If you are convinced that these hurdles are too high for you, then consider the patented COGZ Recognition Rewards program.
With COGZ, you get an easy-to-use, adaptable system that is free to try out and put into practice. You can get it set up in minutes using one of the pre-built templates, or you can build your own from scratch.
Structured, sophisticated employee rewards programs are no longer exclusively for large companies. Now it’s your turn.