Rewarding Your Employees When Money is Tight

March 17, 2015

As a business owner, you understand that recognizing employees for their good work is key to their morale, job satisfaction, and long-term prospects with your organization. However, the unpredictable economy may have landed you in a place where you simply do not have the budget for grand gestures that show your staff how much you care. However, there are a variety of ways you can recognize your employees for a job well done that require little to no monetary investment.

  • Create a system where office members can nominate each other for employee of the month. Each month, create a bulletin that contains information on who was nominated that month and why. From that group, select a winner and reward them with exclusive use of the best parking spot in the employee lot for the next month.
  • Create a policy which allows your employees to have flexibility in their 40 hour per week schedule. This could include setting regular telecommuting days for individuals if they want them, or allowing employees to have a flexible work schedule depending on their daily needs.
  • A simple thank you card with a handwritten note letting a staff member know you have noticed their hard work can be incredibly meaningful. It will stand out as especially powerful in this time where so much communication is completed digitally via email and text message.
  • Create a fun activity employees can participate in when they need a break. One example is a variant of the popular #ThrowbackThursday on Twitter and Facebook. Have employees post old pictures of themselves up on a bulletin board, and everyone can have fun guessing who is in the photos.
  • Set some days in which casual dress is allowed. You can even create themes for these days, such as “wear your favorite sports jersey day.” In addition to helping the employees feel more comfortable while they work, seeing who is a fan of which sports team is bound to generate some lively conversation.