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A great way to show your employees their hard work is appreciated is to implement a system of incentive-based rewards. Whether structured in the form of cash bonuses, merchandise or other types of perks, attaching them to performance communicates to your employees that results equal rewards.
Here are some keys to a well-structured system:
- Keep incentive pay separate from regular pay by issuing a separate check.
- Stay away from group incentives in favor of individual ones.
- Track performance daily or weekly to get employees to produce the greatest results.
Although you may be tempted to take a "bah humbug" attitude when it comes to providing your employees with paid holidays and vacation days, the benefit in your employees' attitudes far outweigh the costs to your bottom line.
Even the smallest of remodeling companies are giving the big six — New Year's Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving and Christmas — off with pay.
According to a survey by Hewitt Associates, a management consulting firm specializing in employee benefits, 28 percent of businesses provide 10 paid holidays per year. As for vacations, the standard is two weeks paid after one year of service, three weeks after five years and four weeks after 10 years.
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