Ways to Reward Employees
Employees would generally prefer to have their efforts rewarded with enhancements to their salary and benefits. This isn't always possible, though, especially in times of economic uncertainty. There are, however, many other ways you can reward your staff and boost morale that don't involve breaking the bank in the process.
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Recognition
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Organize an awards ceremony or certificate program to recognize the efforts and achievements of your staff. Along with a presenting trophies or plaques, take the time to praise employees for the work they've done and arrange a dinner or a party for all of your employees to mark the occasion. Award prizes for effort and improved performance alongside honors for recording the highest sales figures or being responsible for most revenue generation.
Flexi-Time
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The Internet has made it much easier for people in a whole range of jobs to work remotely from home. Giving your employees the option of performing part of their function away from the workplace or offering a more flexible approach to hours is a good way to reward staff for their efforts. It also shows that you trust your workers to carry out their roles with minimal supervision and have considered their work-life balance and family commitments
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Incentives
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Organize regular incentive schemes to reward your staff for meeting performance targets and other benchmarks. Set aside a monthly budget and ask some of your employees to form a committee to consult the entire work force of your company on how they'd like the money to be spent and how the incentive program should work. The money could be used to buy on the latest technology gadgets, nights out or vouchers from big-name stores. You could even award extra time off as an incentive if this wouldn't interfere with the needs of your business.
Charity Days
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Allow every staff member to take a paid day off to work for a charity. You can either allocate the charity yourself or allow employees to nominate the cause of their choice. Your workers get the satisfaction of knowing they've helped a worthy cause and had a day away from their usual roles while your company is doing its bit to give something back to the community.
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