Why Rewards Work
If you tried to reach Red Velvet Events this past long weekend, you might’ve received our Out of Office message – because we were in Cancún!
As part of our many benefits working at RVE, I had created an extra special one for 2015. Assuming we met our stretch revenue goals in 2015, I had promised our entire full-time team that I would take them and a “plus one” for each of them to a destination that would require a passport for the weekend. I wanted to write a blog post about this trip not just because we had a great time, and not just because I’m so proud of the team for meeting our stretch goals – I also wanted to write about how important it is to me to reward a team when they’re doing well.
Why are reward incentives so important to managing a successful team?
- Thanking Everyone Involved. The RVE team works so hard, and I know that the job doesn’t just affect them – it also affects their spouses and partners. We work so hard, and sometimes we forget to pat ourselves on the back for a job well done because after all we have another client event to worry about. But with a trip like this, I can show appreciation to our team members and their partners.
- Broadening Horizons. I believe that travel is very important to being a successful event professional. It encourages a team to experience other cultures, to learn, and to see how others work in our industry. It also stimulates creativity, so any time I can get the team to travel and see the world, I’m all for it!
- Teambuilding in the Tropics. As a team, we sometimes work in a silo-manner because that’s how we get the job done most efficiently. But on the ultimate group field trip, we can get to know one another more and enjoy each other’s company. I strongly believe that people tend to stay longer at companies where they know and like their co-workers and actually would hang out with them outside company hours. In my former life in the high-tech sector, my company rewarded our team with trips to fun, exotic locations – trips I still remember fondly, and I’m still friends with many of my former co-workers almost 20 years later.
I’m so delighted that our team was able to experience this trip and see how much I value them. It really forced our team to turn off their cell phones and experience life!
How do you reward a team for reaching stretch goals? How do you keep employees incentivized? I’d love to hear your thoughts in the comments section.