Competition is very good for your permanent employees, but it has to be a good one. Most companies or recruiters have always been skeptical about effectiveness of healthy competition due to the fear of losing some of their good staff, who might feel discouraged or even incompetent when compared to their colleagues.

However, if the competition is carefully thought out and executed, it will be immensely beneficial to the employees, and this will have other ripple effects, which will make the business become more successful. Here are some of the reasons why employers should encourage healthy competition amongst their permanent employees:

Increase in creativity and skill refinement

When there is healthy competition in the workplace, and the performing staff is adequately compensated, employees will become more creative and come up with new ideas to hit new targets. In the process, they will not just increase the productivity of the company, but also will refine their skills, and become more adept in their craft. Ultimately, both they and the company will gain.

Respect for contemporaries

When permanent employees are put in an environment where they have to bring out their competitive sides, they will respect and appreciate their fellow colleagues for the efforts they are inputting. This is very good for harmony within the organization, and many oftentimes, the best performing employees are willing to offer assistance to the least performing ones. This will not just foster team work, but the smooth cooperation between employees will lead to more efficiency and business growth.

Loyalty to the company

Competition will also foster loyalty amongst the permanent employees. Because they will be rewarded for exemplary performance, employees will go out of their way to do their best to ensure that the goals and targets of the business are met. This will in turn create a certain commitment that will cause employees to become involved in the success of the business, and they will not have failure as an option.