An employee rewards programme can be key to making your employees feel valued and increasing their productivity while keeping your staff turnover rate low. When you invest in your employees and their well-being, they will start to invest back into the company, as receiving recognition and rewards can positively impact their performance and mood at work. This is how good rewards and recognition motivate employees, but how exactly do you reward your employees?
How do you reward employees for good performance?
Firstly, you need to be adept at employee recognition to spot high performance and good work. Not every reward programme will be the same, but the foundation is the same —it’s all about focusing on meaningful employee appreciation and rewarding employees’ work.
Below, we’ve listed some ideas for rewarding employees without money.
1. Public appreciation
This one may sound so simple, but in reality, it’s very effective. Studies show that 33% of UK employees feel undervalued and underappreciated by their employers. A simple thank you can make your employees valued as they can see that you recognise their hard work. Going one step further and thanking them in front of the rest of the team can not only boost that particular employee’s mood but the team morale as a whole as they’ll see you’re willing to acknowledge high-performing team members.
2. Employee of the month
Featuring your top employees in the business monthly newsletter or the company blog will give them the recognition they deserve but also broadcast their efforts to the rest of the team. This can make a better work environment as people may feel motivated to work more productively as they have seen that you recognise hard work.
3. Offer extra time off or flexible working
Every employee loves having time off work. Offering extra time off to employees who are high performing will recognise their work while giving them something to look forward to and work towards in the future. An extra day off is a nice treat that shows you appreciate the time they put into their work. If you can’t offer time off, try offering flexible working where your team members could choose a day they’d like to work from home (if possible) or where they would work a shorter shift.
4. Cover commuting costs
Although this will cost the company a bit of money, it is a nice gesture that will make your employees feel valued. However, this only works for employees who commute to work. If your team members drive, you could always offer to cover their petrol for the week.
5. Gift cards
Again, this one isn’t exactly free, but it can be a small cost compared to the work your employees have put in. A gift card to their favourite store or even a restaurant can boost employee engagement and show your employees that you recognise their hard work.
Alternative ways to reward your employees
Although small gestures like handwritten thank you notes and broadcasting the employee of the month can still go a long way in showing your team members you appreciate their hard work; sometimes it might take more to increase an employee’s job satisfaction. In this case, you might need to spend a bit more money on things like group trips, gifts, and even private getaways.
How Another Way can help with your employee reward scheme
If you’re struggling to think of a good recognition programme or even if you don’t know how to monitor your team’s work, Another Way can help. We create unique and role-specific incentives that are designed around your business and team. We offer:
- Group incentives
- Group flights
- Sales incentive program management
- Employee reward and recognition schemes
- Incentive web platforms
- Communications programmes
- Programme design and branding
If all this sounds like something your company would benefit from, please reach out today with any questions you may have, or if you’d like to get the ball rolling.
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