6 Tips to Create a Well-defined Reward Systems for your Company

Reward systems and their influence on team motivation. This may be the time to think about implementing a rewards system in your company.

In this way, you will be able to reciprocate and reward your team’s efforts and results. But implementing a reward system in the company that works and that positively influences team motivation is a challenging task.

Intense globalization, followed by great competitiveness in the labor market, has changed the way companies relate to their employees.

GitScrum can help your company to emerge new reward systems to attract qualified professionals and retain talent. And the reward system is a way to recognize the importance of professionals for the organization’s results.

You will understand, by reading this article, what means reward system and you will learn some tips to create a good piece of one with all GitScrum’s features.

What is the reward system?

The reward system consists of implementing instruments aligned with the company’s objectives.  They offer different ways to reward employees for the results generated in the company through their professional performance.

They are intended to reinforce the motivation and productivity of each member of the company, in addition to aligning attitudes and behavior following organizational objectives.

However, mainly, it aims to show the employee their importance to the organization. And GitScrum is an expert on organizing project management and lets you create better reward systems.

Also, Gitscrum provides to you that there are several ways to reward employees. There are different types of initiatives that can positively impact a professional.

1. Intrinsic Rewards

Intrinsic rewards generate greater affective approximation between employees and the company, as it is related to feelings.

They come through a feeling of achievement, achievement, responsibility, and personal and professional development.

Use GitScrum Boards and implement employee-of-the-month programs that provide recognition, either by superiors or by co-workers, or through a career progression policy that opens up possibilities for professional growth.

2. Extrinsic Rewards

This type, on the other hand, associates the level of rewards with the level of performance of each employee. That is, it is earned by productivity, measurable results, or by the length of time working in the company, for example.

Benefits such as life insurance, health insurance, sick pay, and travel are also included.

Extrinsic rewards can be offered in groups to encourage the importance of unity in accomplishing a task. GitScrum’s TaskEffort offers a great variety of intelligent effort level management to manage your tasks.

It is the best way to encourage the adoption of desirable behaviors by the company so that they are aligned with the business objectives.

What is the purpose of the reward system?

In general, the main objective of the reward system is to reconcile the individual interests of employees and those of the company, so that professionals are rewarded for actions that benefit both parties.

The reward system, in addition to encouraging employees to cooperate with the company’s growth, also increases the level of commitment to the organization.

This is because it promotes a greater sense of security for a professional with a position held in the company, due to the recognition of their efforts.

The system consists of fairly rewarding the employee’s performance, according to the perceived effort and the results obtained.

In this way, GitScrum tends to create a sense of healthy competitiveness with themselves and with colleagues. Thus it encourages individual and collective engagement with our RockStar Team, which is perfect for introducing a fair reward system.

What are the main advantages?

1. Increase team productivity

When an employee is recognized for their efforts and results, their motivation increases, which makes them produce more. GitScrum has many features that utterly give points to increase production immediately.

2. Attract good talent

Good professionals like to work in companies that recognize their work. Also, the ones which have a reward system that influences team motivation.

How can you do that with GitScrum? Get our wiki to introduce members to collaborate in every journey in your company. They can share talents and find what’s new in business culture, for a great reward system.

3. Lower turnover

In addition to attracting and retaining good professionals, a benefit is a decrease in the turnover rate, as professionals feel more stable and secure.

Reward systems are effective in improving the company’s relationship with its employees. Therefore, GitScrum has an outstanding role to contribute to the construction of this collaborative and healthy work environment.

How to execute it in your company?

1. Offer remuneration and rewards

Variable remuneration consists of paying an extra amount to the employee, based on their performance. It can function as a commission on sales, profit sharing, and company results, the award for achieving goals.

Another interesting option is the awards, which can reward professionals for their performance through experiences such as trips, dinners, among others, or even with symbolic prizes such as trophies or certificates.

Use GitScrum’s features to make these commissions or awards individually, for an outstanding employee, and also collectively, for teams or sectors that perform well.

2. Promote corporate events

Corporate events, such as end-of-year parties or seasonal celebrations provide greater interaction between professionals.

In addition, they are excellent opportunities for the company to carry out recognition and awards actions, in addition to offering a moment of leisure and relaxation for employees.

You can schedule these events using GitScrum’s Spreadsheet to organize a backlog of the event that must be later added to your GitScrum Board, for example.

3. Offer growth opportunities

This type of reward is very important for professionals who want to leverage and consolidate their careers. For this, the company can offer opportunities for the employee to participate in new projects, so that they can show their potential.

In this matter, Gitscrum provides companies to set opportunities to change the sector and even offer courses in the area of ​​expertise. This is important to deepen their knowledge or acquire new skills, which will enable more opportunities.

4. Give the employee the will to choose

A great way to make your employees happy is to allow them to choose the rewards. Of course, they can do it within the options made available by the company.

The options can be days off, for example, or physical prizes, such as electronics, vouchers, among others, according to the profile of the professionals.

Thus, GitScrum has its Subtasks to provide easier tracking for choosing the way you want the reward. You can also add drive sense to project management holders to know what employees like best.

5. Provide a nice environment

There is nothing better than providing a comfortable and pleasant place for your employees.

This great environment reaches its apex with previous good work. And you may use GitScrum’s Sprints to increase your weekly or daily productivity. Thus, the more you produce and deliver great results, the more chances you have to earn rewards.

6. Write recommendations

Another form of reward that we don’t always remember is recommendations. That’s right! They are very important for a professional career.

Therefore, the leaders of each sector must write recommendations for the employees who stand out in the company. You can do it on the corporate website or their social networks, or the employee’s own, for example.

When you finish writing these recommendations, make sure you will need to attach-files tool. Our Documents are perfect for you to send this letter recommendations with our practical tool.

Are rewards systems outdated?

The more you encourage your employees to deliver results, the more you can compensate them. This is still a great tool to make them motivated to always keep going forward.

Using GitScrum’s amazing features will drive you and your employees to the best reward experience ever! Find a way to create a great environment using the best project management to solve every issue you might have!

📚 Download the free GitScrum Gamification eBook “How to Create a Rock Star Team”