A Time for Reflection: Why Employers Should Reward Their Employees

Intro

The next few weeks are on course to represent the moment where we can safely say we have emerged from the biggest crisis in living memory. A period of turbulence like no other, the coronavirus pandemic led to unprecedented disruption to normal life, socially and economically. Both aspects have challenged businesses like never before, with government support often being the difference between surviving and going under. As we head for brighter times, the moment has come to recognise the contribution of outstanding employees.

What employers can do

March 2020 was when the scale of the challenge truly hit home. The World Health Organisation (WHO) declared a pandemic on March 11th, two days after the FTSE sunk to its biggest one day fall since the 2008 financial crisis. On March 23rd, the UK locked down. Offices were closed, and businesses had to adapt to a new virtual way of working overnight. There were many unknowns. The jury was out on whether productivity would be maintained. Collaboration became a challenge that required huge flexibility.

It’s to employees' credit that the transition was fairly smooth for most. The conditions created by the pandemic have allowed the most capable amongst us to shine and excel. Businesses have had to call upon qualities that were never previously witnessed in the office. Without that level of adaptability from employees, many more businesses would have failed to survive 2020 intact. It’s time to reward those that have gone above and beyond.

What employees can do

Sometimes, employers will reward without a nudge in the right direction. In big organisations, positive contributions can seem granular at decision makers levels, meaning high performance does not always lead to high rewards. If you are an employee in this situation, I advise you to make the first move. There is nothing wrong with highlighting your credentials to your superiors, it could open their eyes to something that was staring them in the face.

My own businesses do not solely promote people through a formal process. That is just one aspect of identifying those ready to rise to a new challenge. In my career, I have promoted many individuals that have approached me first, and even fashioned more lucrative internal roles for those that have made an outstanding contribution. Initiative pays dividends, both in the work you do and the way you get it recognised.

The buoyant market

Sentiment is not the only reason employers need to take stock. With the economy set to grow at its fastest pace since the Second World War, high performers are likely to have many other options on the table for the first time since the pandemic emerged. My recruitment businesses have noticed a huge rise in hiring. Companies are looking to expand their workforce and generate growth because they see confidence returning. Protect and recognise the worth of your employees as the job market becomes more vibrant.

Conclusion

Employers should not take their employees for granted. With the financial situation set to improve, they will be once again in a position to reward staff for outdoing themselves. Both components stuck together during the bad times, and it’s time to make sure they do during the good times too.