Rewarding Your Employees without Breaking the Bank
We know how truly important engaging our employees
to their full potential is. Part of that is showing them how much you appreciate their hard work. We do that by rewarding them, but that isn’t always fully possible when money comes into play. As much as we wish we could afford giant bonuses for all the great employees, sometimes that just isn’t in the cards. The best type of leader knows how to motivate and empower their team without bribing them with more pay. Of course, a bigger salary is always nice, but that isn’t always the way things play out. Lolly Daskal with Inc.com
wrote a substantial list of ways to show appreciation without spending tons of money. Here are her strategies that we can all benefit from:
- “Use your words” Do your best to tell people when they’ve done something that deserves acknowledgment. Maybe write out a personal note. Nothing says appreciation like a handwritten thank you.
- “Bend the hours” When your team is clearly working their asses off, the best possible thing you could do would institute flexible hours. They’re definitely thank you for it.
- “Reward effort, not results” We strongly suggest rewarding effort and not just results. Sometimes we work hard and don’t succeed in the end– and that’s okay. Failure is part of success, right? So, encourage them to take risks by rewarding their hard work and not just their results.
- “Make it meaningful” Create a space where your employees can do interesting and creative work. Provide projects that will give them the opportunity to excel and grow and showcase their skills.
- “Build a culture of success” The best thing you could possibly do is to make the culture of your company rooted in communication, compassion, engagement, and connection. Invest in your team’s success.
- “Connect the dots” Engage your team with constant communication– not just between you and the individual, but everyone together. Make sure that people communicate and share their opinions, expertise, strengths, etc.
- “Provide a hall pass” Every once and a while, it’s okay to take a mental health day– and you don’t always need to call out ‘sick’ to do so. Let your team know that it’s okay to do that every now and again.
- “Swap it out” Help employees develop their new strengths by allowing them to pick their projects or change with a co-worker. Let them empower and motivate themselves to work hard on something that interests them.
- “High five” High fives are great. Who doesn’t love a good high five? Why not utilize them as a technique of showing your employees that you acknowledge their hard work? Just don’t be weird and high five people every eight minutes.
- “Walk it off” Encourage your team to leave their desks and walk around a bit. They’re not chained monkeys; they’re people. Show that you care about their well being by motivating them to leave their work space occasionally.
- “Phone it in” Sometimes, life happens. Letting your team be present through phone, email, or skype will go a long way. Let them balance their life with work when necessary.
- “Park it” If you have a parking lot, consider saving the best spots for those who have worked the hardest or done an outstanding job.
- “Room to chill” Utilize unused office space for a cool relaxation room. It’s essentially a break room with a fancier name. People love that shit.
- “Wall of fame” Honor the people who have done something awesome or significant by putting their picture on the wall.
- “Chain letter” Start some sort of communal digital space for employees to share their insight or any useful information.
- “Catch ‘em” Pay attention to when members of your team do something worthwhile and praise them for it.
- “Family day” Have some sort of open house of family day event for members of the team can share what they do with their loved ones.
- “Graffiti wall” Make a communal wall a place where people can collaborate and work together on projects. We recommend a big white board. Another use would be for employees to write affirmations to their colleagues.
- “Go public” Be bold in your praise. Let your employees know you appreciate them by publicly praising their good work. That way everyone can share in the accomplishments.
- “Give thanks” Remember to say THANK YOU. It’s literally the simplest and most impactful thing you can do.
These are some great tips to show appreciation to your team WITHOUT spending tons of money on bonuses. This way you are constantly creating a culture of engagement and respect.