Any great leader in business knows that rewarding employees for their hard work and productivity is key to maintaining a good workplace morale 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.
1. Discounts and Money Off
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 their products or cut-price memberships to services such as gym memberships, music or movie streaming. Or, just offer a generous discount on the product or services that you offer.
2. 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 workday or even spend time at home with their friends and loved ones, without having to miss out on any of their wages.
3. Team Building Days
Spending time with your employees outside of the office and getting everybody together for fun and interesting team building days can help to improve workplace relationships. This is, in turn, has a positive effect on employee satisfaction and morale. This could be something as simple as treating your team to a meal and drinks out or getting involved in fun activities such as a visit to a theme park or the escape room Columbus. An escape room is a great way to get your team working together to solve the clues that help them escape before the time is up.
4. 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 those 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 mention 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.
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?