Best Ways to Reward Your Employees

reward your employees

Employee recognition is among the most crucial parts of running a business. With it, you can boost staff performance and productivity, encourage new people to join your team and establish a healthy work culture. There are a plethora of ways you can recognize and reward your most exceptional staff. We rounded up all the best ideas you can use below.

Offer gift cards

Gift vouchers are among the most requested type of incentives in the market. With this type of reward, employees get to choose the items they want. These are seen as an effective incentivizing tool especially for businesses in the finance and sales niche. The best part is that you get to choose from a wide range of domination and shops and decide whether to hand out a physical or electronic gift card. 

Hand out customized items

Everybody loves receiving gifts, especially meaningful and useful ones! Reward your highest-performing staff with personalized lanyards and other promotional products. These practical gifts can be highly functional (think mugs, journals, notebooks, hoodies) and used daily. These small gifts can really show the company’s appreciation for the employee’s hard work and dedication. Additionally, because of custom branding options it can also turn into an indirect marketing opportunity for the business.

Reward them with a coffee membership

Make your best employee smile with a coffee subscription. A lot of companies that offer coffee membership can deliver the kits straight to your employee’s mailing address. Alternatively, you can hand these out personally when you’re in the HQ. Some coffee subscription starts as low as $12 per month. Others can go as high as $32.

Travel package incentive 

Who doesn’t want to receive a travel package incentive after exceeding the annual quota? This type of incentive can indeed cost a lot of money especially if you opt to provide international travel deals. However, it’s seen effective in increasing employee loyalty. Plus it will help you encourage others to work on their quota for the next year.

Personal notes and public announcements

Even the simplest thank you note from the CEO or public recognition can inspire your workers to do better. Schedule a monthly or quarterly staff recognition program to award your best employees. Don’t forget to hand out certificates to the awardees! You can even treat them to lunch or dinner.

Offer them with VIP parking space

What better way to highlight the achievements of your employee than providing them with VIP parking space for a few weeks? You can either offer free parking or designate a special space for your most valued employee.

Give them extra paid leaves

Employees in the US, typically get a minimum of 10 paid vacation or sick leaves. The number of days typically depends on the agreement between you and your employee. As a way of thanking your best workers, you can offer them additional leaves. This will allow them to spend more time with their families or perhaps, their passion projects.

Organize an all-expense-paid group outing

Team building activities and group outings are quite effective in increasing team productivity. These provide employees more opportunities to forge meaningful connections with the rest of the members of a department. Employees who relate with each other better tend to have more effective work dynamics in the office. You can organize group activities in a different city. If you have extra budget, you can sponsor international trips.

 

Employees contribute the most to the success of a company. When they feel appreciated and valued for their efforts, they feel more compelled to stay and perform better. Think about how you reward your employees. Have you been valuing them enough? If not, now is the best time to start reevaluating your efforts and employee rewards policy. Use the ideas above as your inspiration! 

Image source: pixabay.com
2020-02-07T13:35:00+00:00 By |Employee recognition|

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