How to Reward Employees Without Money

April 24, 2017 | By | Reply More
good job

Image via Flickr by http://tvorbaweb-stranok.sk

You can reward your employees with gift certificates, prizes, and other monetary incentives, but that isn’t always the best way to inspire improvement. You can motivate your team members with minimal spending. Here’s how to do it.

Offer Flexibility

Who wants to be stuck in the office from 9 to 5 every day? Your employees likely have personal responsibilities and family obligations that might make it difficult for them to abide by a traditional schedule. By letting your employees come into the office a little later or making other concessions, you let them know that you truly value what they contribute to the team.

You might even want to consider letting your employees work from home sometimes. Amway offers this type of flexibility, as do many other successful companies. You won’t see a drop in productivity, but you may see an increase in employee satisfaction.

Be Generous With Praise and Recognition

A Gallup poll once found that “employees who receive regular praise are more productive, engaged and more likely to stay with their organization, than those who do not.” When an employee does well on a project — or even when they simply meet expectations — recognize the effort involved.

Be specific when you’re giving praise. Simply saying “good job” feels generic and isn’t as rewarding as when you point out the particulars of what your employee did well. Did he or she stay late to meet a deadline? Did this person have a good idea that streamlined a project? Always be on the lookout for actions that deserve a pat on the back.

Sometimes, you should do more than just give verbal praise. You may want to send an e-card, print out a certificate of recognition, or deliver a handwritten note. When the situation merits it, give public recognition. You may want to start a “brag board” that recognizes what employees are doing well. You can also give recognition in the company newsletter or on social media.

Provide Opportunities for Socialization

When your team is doing well, reward them with the opportunity to socialize. You might arrange a potluck lunch for the office, where everyone signs up to bring their favorite dish. This will let everyone get to know each other better — and who doesn’t love free food? You can spend just a little money to provide the drinks or a custom cake to give the potluck a little more pizzazz. You don’t need a special occasion, like a holiday, to host a potluck; host one just because you want to show your team how much you appreciate them.

When you want to reward one individual and not the whole team, you can take that person out for a nice lunch. You’ll get to know one of your employees better, and he or she will feel like more than just another name on the payroll.

Encourage Advancement

You don’t want your employees to feel like they’re stuck in a rut. Therefore, you should always be on the lookout for employees who are deserving of advancement. Even if there are no higher positions open at the moment, you can still prepare your team members to take on greater responsibility. Provide one-on-one feedback, and not just when it’s time for those quarterly evaluations.

You can also consider sending employees to special training seminars. At these seminars, they can learn more about your company and how to hone the skills they already possess. Your employees will love taking a day or two off work to learn, and the knowledge they gain will, in turn, benefit your entire team.

Give Other Perks

There are many small perks you can offer to employees that will make them feel valued. For example, you could set aside a parking space for your employee of the month. You could even offer to wash an employee’s car if they meet a certain goal. Things like an extra day off or an extended lunch break can also go a long way toward making your employees happy.
Rewarding your employees doesn’t have to be expensive. By using the above tips, you can make your team feel valued without spending a lot of money.

 

Royce Calvin

Royce is a writer for PowerHomeBiz.com. He is as passionate about Internet Marketing as he is with his ever-present cup of Starbucks coffee.

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