3 Proven And Cost Effective Ways To Reward Employees


Your employees are your greatest asset and they deserve recognition, motivation and appreciation. The good news is that you can reward and motivate your employees without breaking the bank. Your most values employees will be happy and satisfied doing what they do best when they feel appreciated and recognized for their effort.

Happy employees pass on their enthusiasm to customers and happy customers keep buying from you and even tell their friends and colleagues about your business. It is there in your interest to keep your employees motivated to keep doing what works best for your business.
If your business in a recession economy cannot  afford to give raises or bonuses that staff deserve, there are equally brilliant employee reward ideas you can offer your employees whilst you work hard as a team to take the business to winning ways.

Allow employees to take up passionate projects in other departments

Most employees could get a job satisfaction from doing or pursuing what they love in the office without necessarily given up their current roles. You can manage this process by allocating specific hours in the week that can be dedicated to working on side tasks apart from their official roles in the company.
Successful side projects
When people tend to do what they love or are very passionate about, they tend to work very hard at it and this could be in the interest of the business. Technology giants like Google encourage engineers to work on side projects and some of them have been very successful and are now Google products. Gmail was Paul Buchheit’s side project when he was at Google and it  has proven to be a great Google product. Instapaper was started by Marco Arment while he was CTO at Tumblr. Twitter was a side project of Jack Dorsey’s while he was at Odeo.

Simple but effective ways to say thank you!

Focus on keeping it simple. You don’t have to necessarily invest all the business resources into keeping your employees happy, but you can equally invest time and commitment into effective and simple strategies like recognizing achievement-invite employees who have achieved targets, thank them personally as the CEO or founder of the business, make mention of it in your company’s weekly or monthly group emails, invite them for lunch and share your business experience with them, you could even post a signed “thank you”  note on the noticeboard and on their desks, give out gifts cards, company souvenirs including personalized ties and cufflinks, cups, shirts (T-shirts are popular, but polo shirts offer an upscale touch that gets you noticed), etc that meet the latest fashion trends.

Offer opportunities for personal growth

Your employee’s personal development should be your concern as a company.  Give your employees the opportunity to discover a new skill, learn about something new that can enhance their productivity, or sharpen existing knowledge and skills. You don’t have to necessarily offer everybody personal development courses but you can sign them up for cost-effective online webinars, online educational programs, subscribe to resources that can improve the way they work including team collaboration apps.
Make rewards and appreciation a new company policy and employees will hold a deeper commitment to your business, and its mission and values.

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