Creative Employee Recognition

Although experience proves cash incentives are a sure way to boost financial services' sales, cash alone won't develop top-performing salespeople or instill the esprit de corps necessary for a winning team. They say motivation comes from within, but a good sales manager can fan that inner spark into a flame.

"Recognition is key," says Karen Christman, AVP Sales Development officer with $350-million asset Keystone Nazareth Bank & Trust based in Nazareth, Penn. "People like to be thanked for a job well done, to be verbally recognized, and to see their names in print. They like to have their commitment to the bank documented."

Christman manages a bank-wide teamwork recognition program in which employees nominate other team members for special appreciation for efforts beyond normal duty. Nominees are recognized in the bank's bi-weekly newsletter, Sales and Marketing Update. They also receive a gift, a certificate, and documentation in their personnel file. People with multiple nominations during the year receive a Land's End apparel item or a sculpture.

A second Keystone Nazareth Bank & Trust program recognizes branch and department team achievement. When teams meet or exceed their annual goals, their members receive $50, a certificate, and recognition at an annual awards dinner attended by the Board of Directors.

More Ways to Reward Performance

Recognizing performance should take place on a daily basis, says Bob Nelson, author of 1001 Ways to Reward Your Employees. Rewards don't have to be expensive. Nelson suggests these ideas:

• Write a letter to the employee's family about what his or her efforts mean to the bank;
• Arrange for a senior executive to have a recognition lunch with the employee;
• Have the president call the employee to personally thank him or her for a job well done;
• Find out what an employee's hobby is and purchase a small gift related to that hobby;
• Dedicate a prime parking space for the outstanding employee of the month;
• Wash an employee's car in the parking lot during business hours;
• Have a group of managers personally cook lunch for a group of top performing employees; and,
• Use outstanding employees in the institution's advertisements.