Any great leader in business knows that rewarding employees for their hard work and productivity is key to maintaining a good workplace moral and encouraging high levels of employee satisfaction. When it comes to rewarding your employees, you need to ensure that you strike the right balance to choose rewards that are both cost-effective for your business but ideal for letting your employees know just how much you appreciate their work.
Many business owners and managers stress about spending money on employee rewards, but the truth is that when done right, you can ensure that your employees feel valued without having to spend a lot. We’ve listed some creative and exciting rewards ideas that we’re sure your employees will love.
Discounts
For business owners who don’t have the available capital to purchase rewards for their employees, you can provide them with discounts for a range of different things as an alternative. Many other companies are often happy to team up with business owners to provide employee perks such as discounts on tickets from sites such as www.ticketoffices.com or cut-price memberships to services such as music or movie streaming. Or, you could team up with other local businesses in your area to offer your employees vouchers for money off or even free items, helping to support your local economy at the same time!
Time Off
Who doesn’t enjoy taking some time off and having a well-deserved break from work? If your employees have been working hard and have produced some great results for your company, offering them some extra time off definitely won’t hurt. A paid afternoon or day off, or even an extra hour at lunch is a reward that will definitely go a long way for many employees, who will surely appreciate being able to enjoy a shorter work day or even spend time at home with their friends and loved ones, without having to miss out on any of their wages.
Employee of the Month
Organizing an ‘employee of the month’ competition and having other employees nominate and vote for the colleagues that they believe are deserving of the award can be a fun way to both reward your employees and encourage great workplace engagement at the same time. An employee of the month scheme is a great way to encourage a good morale in the workplace, generate some friendly competition and help your employees to build great working relationships between themselves. Don’t forget to include a small prize for the employee of the month!
Pass On Praise
Simply saying a heartfelt, genuine ‘thank you’ can be one of the best ways to show your employees that they are appreciated and the best thing is that manners don’t cost you anything! But, along with saying thanks for everything your employees do for your company, it’s also a good idea to make sure that you pass on any praise that you hear about those in your employ. If you overhear somebody saying great things about an employee or another member of staff mentions to you how well a certain employee has worked, passing on this information to the said worker is a great way to let them know that they are valued and give them a confidence boost.
Celebrate Birthdays
There isn’t much worse than having to come into work on your birthday, so employers should take advantage of this and use employee birthdays as a great excuse to celebrate. Keeping a record of your employees’ birthdays and presenting them with a card and perhaps even a small gift on the day is a sure fire way to make them feel special and appreciated. When it comes to celebrating birthdays, the options are endless – you could offer them the day off to celebrate with their family and friends, or, for employers who can’t fit paid time off into the budget, why not order cakes and decorations for the office to brighten up the idea of working on their special day.
More Responsibility
Offering employees more responsibility and choice over the assignments that they undertake can actually be a great way of rewarding them for hard work and productivity. Everyone loves to make their own choices, especially when it comes to the work that they do. Allowing your employees to choose work based on what they are personally interested in and good at means that they’re far more likely to be engaged with their work.
Showing employees that you appreciate them is hugely important to the success of your business, and what better way to do this than through great rewards?
