In a very competitive and ambitious environment, quite a huge number of business owners are searching for more improvements in the quality of their products and services while also reducing the costs; . On the other hand, a strong economy has resulted and developed in tight job markets, so with that, small businesses require more from their employees while employees are searching for more from them in return.
Employee benefits and acknowledgement programs are considered to be the best motivation factors for employees when it comes to changing their behavior and work habits, and although the thought of rewarding employees beyond their usual benefits and payment packages seem a little obvious, there are some leaders who avoid and disregard this since they think that showing that they appreciate their employees will weaken their authority. Moreover, leaders often think that doing such things will stir instances of jealousy between employees and this is something they want to avoid at all costs.
When rewarding your employees, cash will most likely be the best but this will last only for a couple of hours since money is not really a key factor when it comes to motivating people. It is true that employees will greatly appreciate cash as a reward; however, trying to find ways to engage and reach out to them will be a better way to gain more hard working and loyal employees.
Here are some ways to adequately reward and appreciate your employees without really having to break your budget:
- Allow your team or employees to have a more flexible schedule and agenda by letting them work when they want to. This may be something that seems insignificant to some but a little flexibility can be worth more than any amount of cash. However, just make sure that they are still able to work adequately to fulfill their duties.
- Sometimes, taking your team out for lunch or dinner can instantly boost their energy, plus, it is also one way to reward them adequately while simultaneously showing them your appreciation for their good work.
- You can try to make some ‘free day’ tickets or coupons that your employees can use for a free day off with no questions asked and without them having to use any of their sick or vacation time. Giving your employees an additional day off from work and all the tasks on hand will always help; plus, it is much better when your employees can pick the day for their ‘free day’ and get paid as well.
- Leaving your employees a simple ‘Thanks’ or ‘Thank You’ note will have a great impact on them, plus, they will really appreciate such a simple gesture from their boss/leader. Thanking someone for something specific can be considered a simple yet an ultimate reward, so if done selectively but genuinely, that thank you note may probably be pinned at the top of your employees desk for a really long time.
- Sometimes, the best way to show your appreciation is by simply saying the word itself; the words ‘Thank You’ are really powerful and have a great impact when said sincerely, so saying this costs nothing and is very effective for anyone.