Employee retention is a major factor in determining the overall success of your organization, especially in the competitive oil and gas industry. Keeping your best employees both professionally satisfied and inspired helps to engender their loyalty, but accomplishing this ranges from an art to a science. Sometimes, simply acknowledging their hard work goes a long way in ensuring they’ll stay in the fold.

3 Ways to Reward Your Employees for their Hard Work

Celebrate the Successful Completion of a Project

If an important project successfully finishes under budget and ahead of schedule, it is time to celebrate. It would be a great idea to take everyone out for a company lunch, followed by an afternoon group activity, like a movie or a golf outing. These kinds of events build loyalty and are perfect for rewarding a job well done.

Being spontaneous when deciding to have a reward event also helps in developing the right kind of team at your office. Just make sure everything is properly covered at the office, so your workers can enjoy the afternoon off without worry.

Financial Bonuses Build Worker Loyalty

Creating a bonus plan for your employees remains a straightforward way to foster worker loyalty. Combining a public, documented plan with achievable goals rewards your company with improved productivity and performance as well as rewarding your employees’ wallets. A simple profit-sharing plan is the easiest way to accomplish this perk.

Don’t Forget some Comp-Time or an Extra Vacation Day

If your organization’s daily operations are too vital for taking an afternoon off on a company outing, consider rewarding your workers’ extra project efforts by giving them some comp-time, or even an extra vacation day. Ultimately, you need to show your employees that their hard work continues to be noticed.

If you need any additional input on building — and retaining — a top notch workforce, talk to the staffing experts at Global Personnel. As one of the leading staffing companies in the Western Texas oil industry, we offer you both keen business insight and a robust supply of qualified candidates. Schedule a meeting with Global today!

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