3 Effective & Inexpensive Ways to Reward Top Performers
bydmrindahl05-09-201106:16 AM - edited 05-09-201101:58 PM
Keeping your top performers feeling appreciated & content is very important. Your top 20% bring in 80% of your revenue so it’s imperative to consistently let them know how much you value their hard work and effort. Honestly, they require minimal coaching, but do require lots of thanks & recognition to keep them happy.
Below are three effective & inexpensive ways to reward your top performers.
#1 More 1:1 Time With The Boss:
Why: Top performers know we are busy (because they are) so when we take time out of our day to spend with them, they truly appreciate it.
Reward: Lunch is always inexpensive & fun. It gets you both out of the office & it gives you privacy to not just talk about work related activities.
Keeping Them Satisfied: Set up a bi-weekly, 30 min 1:1 session to speak to them about any challenges they are facing & to see how they are doing, personally & professionally.
#2 Hand Written Thank You Cards:
Why: It’s very thoughtful. Giving a hand written thank you card is rarely done & shows you care.
Reward: Along with the card, I like to include a $5 - $10 gift card. I place it on their desk before they come into work. Trust me, it works.
Frequency: Bi- Monthly based on performance
#3 Peer Recognition & Thanks
Why: Even your most humble top performers thrive off of peer recognition. We have quarterly & yearly award dinners, but it’s always good to recognize your top performers daily & even weekly in front of their peers on the sales floor.
Reward: At the end of the day, go on the sales floor and thank them for having a great revenue producing day & tell everyone how much they sold. Also, it helps to let everyone know how productive they were. If that person made 50 outbound calls to achieve that revenue amount, tell everyone & make a big deal about it.
Frequency: Depending on the day’s performance, it should be done a few times a week.
Consistently doing these small things to recognize & thank your top performers will let them know they are a valued contributor to the organization.