Cost-Effective Ways to Reward Employees

Pinnacle All, Management Best Practices Leave a Comment

imagesIsn’t it wonderful when someone shows appreciation for something you’ve done? It makes you feel special, seen and valued. Also, it often causes you to do more for the person who acknowledged you. Some employers forget that this dynamic is just as real inside the office as it is outside, and they suffer the consequence of having a weakened workforce.

Rewarding Employees Creates a Win-Win Situation

As an employer, you have the ability to increase employee engagement, satisfaction and retention simply by rewarding your employees for jobs well done. Kevin Kruse, contributing writer for Forbes, says, “Research shows that feeling appreciated—which comes from recognition from others—is one of the top three drivers of employee engagement.”

When employers make employees feel special through positive recognition, both parties win: employees feel valued and become more productive, and employers reap the rewards of increased productivity. And, it is amazing how fast company culture can change for the better when employees are regularly applauded.

Cheap Ways to Recognize Employees

Making your employees feel appreciated by recognizing the good things they do does not need to be expensive or time consuming. Here are several budget-friendly ways of showing your employees that you care:

1. Offer verbal affirmation (say thank you, give sincere compliments, etc.)

2. Assign an employee of the month and feature him or her in your company’s newsletter

3. Have a casual dress day

4. Make arrangements to have an exemplary employee’s home or car cleaned

5. Write cards to recognize achievements and milestones

6. Have a birthday cake delivered to the office on employees’ birthdays

7. Send company-wide emails that praise employees

8. Treat a special employee to lunch with you

9. Give cards with lottery tickets, movie tickets or restaurant gift cards inside

10. Have lunch catered occasionally

What Reward is Most Desired by Employees?

Scheduling flexibility is one type of reward that is perhaps the most desirable to employees. Rhonda Abrams of USA Today explains that giving your employees freedoms such as “starting work a half hour later to get a child to school or leaving work a little early occasionally for other needs” is one of the best things employers can do. Abrams continues, “Giving some employees a reasonable amount of flexibility will often generate a great deal of loyalty.” The fact that giving flexibility costs nothing makes it an even more attractive method of recognition.

How Will You Reward Your Employees?

There are lots of creative ways employers can make employees feel special while staying within a budget. Any methods of positive recognition you choose, whether costly or free, will make your employees happier and more productive. How will you recognize your employees from now on?

Share this Post

Leave a Comment