Money is tight these days. As the head-honcho, you are always looking for ways to cut costs. But, one word of advice: don’t scrimp on rewarding your employees for a job well done.
You may already be rewarding all of your employees by giving them great benefits, paying for mileage for the commute to work or giving them a pay raise. But, you don’t want to forget to reward their individual performance, too. You don’t have to spend a lot of money to reward employees either. Just showing them that you recognize and appreciate their hard work can be enough. Here are just a few ideas:
This is one of the easiest ways to reward employees. You can recognize employees for a job well done at meetings or company events. Many companies have employee of the month and year that are picked by management or by their peers. You can easily customize certificates or plaques to give to the employee or hang on the office wall. This recognition also can come with a gift card or bonus.
This means a card with a gift in it, not a gift card from Macy’s (although that works, too). Give them a personal card that has something in it like two movie tickets or dinner for two at a nice restaurant. Cater the gift to the individual employee, i.e. if they have a family, make it four movie tickets. The point is to not only reward that person individually, but to make sure they feel like you know their name, not just their level of workmanship or what desk they sit at.
And sign the card personally; don’t have your secretary stamp it.
One example is a Starbucks eGift. This would be a great reward for an employee that has a coffee addiction, i.e. if they can’t live without Iced Caramel Mochas, send her a 10 dollar Starbucks eGift.
A lot of retailers offer eGift cards; you can send flowers from 1-800-flowers or a cheesecake from the Cheesecake Factory. An eGift is easy, inexpensive and a thoughtful way to show your appreciation.
Everybody loves some kind of a technological gift, and there are many that would make an employee happy.
Silly tech gadgets are a fun way to reward employees. A wireless key finder for an employee who can never find their keys or a tennis ball launcher for the employee who really dotes on their dog are excellent ways of personalizing a gift.
You also can go for larger tech gadgets like e-readers, tablets or even phablets like the Galaxy Note 3. These types of gifts are great because employees can use them at home for entertainment and at work or travel.
A pay raise boosts satisfaction and a bonus helps pay the bills, but a thoughtful performance reward can increase self-esteem, job motivation and overall satisfaction. Remember, it takes money to make money, and giving an employee a reward that’s deserved will more than make up for the cost of the reward.
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