Beyond Money: Rewards for Employees

When you think about rewarding employees, do you tend to consider only monetary rewards?  Do you imagine that your choices for incentives only include raises and bonuses?   Many small business owners tend to focus strictly on the monetary rewards, but actually there are other ways that you can give employees a lift. 

A June 13th article at business.com offers some thoughts on cost-effective ways to reward and motivate employees. You might not have thought of how far your attention and consideration can go to ramp up employee loyalty, production, and satisfaction with their job.

Flexible Work Arrangements.  For some workers, the traditional schedule of 8 to 5 (or something similar) works great.  But let’s face it, many employees would benefit from a less rigid schedule.  Employees may have personal or family obligations that require them to start the day later or end it earlier.  Or employees might just prefer or work better at certain times of the day.  Some small business owners are able to offer workers the ability to make small adjustments to their work schedules.  This is usually a win-win situation as employees are often happier and more productive.

Similarly, sometimes small business owners can also arrange for workers to conduct their work away from the office.  Obviously, this doesn’t apply to everyone.  Some workers, especially in the service industry, are needed on location.  But if work can be done anywhere, it is a huge reward to workers to have the privilege to work at home or at another location when necessary.  This is especially helpful during an illness or a family emergency.

Food.  Another low-cost way to reward workers and help them to feel appreciated is to appeal to the appetite.  As sophisticated as we all like to pretend we are, the truth is that food still tends to motivate most of us.  Small business owners can “feed” this need in a variety of different ways.  Taking employees out for a one-on-one lunch can be a gift to show appreciation for outstanding performance.  Providing food when employees have to stay after-hours is another popular option.  Some businesses even keep snacks or drinks in the office for employees to consume.

Intangible Extras.  Perhaps the best reward for employees is something that cannot be purchased.  So many workers long for a friendly, courteous work environment.  Smiles, words of gratitude, and gracious attitudes can go a long way in rewarding your employees.  Whether at the start of an early day, the end of a long day, or after a stressful situation, these can show your employees how valuable they are to you.  And that will not cost you a dime!

As you do your best to reward your employees and show them you care, The Payroll Department can help you to manage those regular rewards called paychecks!  With over 25 years of experience serving small businesses in Brownsburg, the surrounding Indianapolis area, and across state lines, we know how to keep your payroll operation running smoothly, accurately, and on-time.  Visit our website or call us at (317) 852-2568 to see what we can do for you.

-Jessica of The Payroll Department Blog Team