Transcript of Podcast # 26: How To Reward Employees
Thanks for tuning in to Easy Small Business HR’s Employee Hiring and Managing Tips.
Similar to episode #24, this podcast focuses on another very popular blog topic: how to reward staff.
Working on improving employee engagement?
EPIC is an Employee Engagement software that gives you the tools and insights to create a workplace culture that encourages engagement, loyalty, and trust.
I’m thrilled that so many small business owners and supervisors recognize how important it is to reward staff for the work that they do for you everyday.
Some supervisors don’t try to reward employees for the work that they do because of the misconception that rewarding employees means spending a lot of money, but today’s podcast will highlight ways that you can reward employees without breaking your budget.
Some no cost, low cost, or cost neutral ways to say thank you include:
Rewarding employees by supporting work/life balance through work at home plans. Allowing employees to work from home or telecommute is a great way to not only thank employees, by giving your employees more flexibility, but you also get work done at the same time.
Consider a flexible schedule option for staff. Is it possible for your staff to work more hours, 4-days a week and then take a Friday or Monday off? What about allowing staff to come in a little earlier and then leave earlier during the day ?
Surprise your employees with a half-day off on a holiday that your company does not normally observe. If the office is open on President’s Day for example, let employees leave a little earlier than scheduled.
Give your employees an opportunity to work on a high-profile project, such as a task force or committee. This is one of the more creative ways to reward employees because it not only gives the employee more visibility within the organization it also provides him or her with valuable work experience.
Publicly acknowledge your employee’s accomplishments whenever you can. You can do this by including a blurb in your company newsletter, at a staff meeting, or through the company email system.
Invite employees to your home once a year for a barbeque, take staff out to lunch, or bring in breakfast.
You are only limited by your imagination in terms of ideas for how to reward your employees.
If you have creative ways that you’ve rewarded staff, share them with others who are looking for ideas.
Leave your comment.
It’s expensive to hire a new employee. Cost per hire varies depending on the time spent recruiting, the salary of the person(s) involved in recruiting and quite a few other factors. The bottom line is, that if you have trouble retaining employees, it’s costing you money.
There are many ways to keep staff engaged and happy which in turn will keep them working in your organization. One of the best ways is through employee recognition. When you consistently recognize your staff for the work that they do, they feel valued and appreciated. It’s one of the best management practices that should not be underestimated.
For more ideas on how to recognize your employees go to easysmallbusinesshr.com/retainemployees
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Some very good points here. it’s not as much about how much the reward costs as what it says to the recipient. Making them feel appreciated and their work noticed is what really counts, and it doesn’t have to be expensive to be effective.