Numerous studies have shown that money alone won't fully motivate employees. Sure, moolah is important, but employees respond to recognition and other non-cash perks as well. An occasional pat on the back for a job well done goes a long way. Hiring mistakes cost thousands of dollars, so you can see why keeping your employees happy is key. Rewarding your employees helps you:
- Retain the best employees
- Reduce recruiting, hiring and training expenses
- Foster a positive environment
- Motivate your employees to give their all at work
- Keep your customers happy; after all, happy employees equal happy customers
Create an employee motivation programDecide what qualities you'd like to encourage -- punctuality, high sales volume, initiative, a high number of positive customer remarks -- and reward employees who show those qualities.
Just say thanksA simple handwritten thank you card can make a huge impact on employees.
Take them awayReward your employees with a trip away from the workplace.
Give gift cards and certificatesInstead of guessing what your employees would like, give them gift cards.
Whaddaya want, a medal? Yes!Give your top-performing employees an engraved award or a framed certificate boasting of their achievements.
Hire someone to do it for youToo busy to create an employee rewards program? Let someone else handle it for you.
- Don't overdo the rewards or your employees will start to feel entitled to Friday lunches, gift cards and other goodies.
- Let your customers do the work: When an employee goes above and beyond, ask your best customers to contact the employee or sign a card saying how much the employee has helped them.
- To get even more rewards bang for your buck, congratulate the employee publicly, such as in the company newsletter or on the company Web site.
- The reward is a great place to work: Don't regularly overwork your employees and make sure you know you value accomplishments, not face time.