Image Credits: pixabay.com
Recognizing the efforts of your employees can help show your appreciation, boost their morale, and retain your loyal workers. On that note, here are four budget-friendly ways to reward your beloved employees:
#1: HIGHLIGHT THE OPPORTUNITIES FOR GROWTH
Recognize the exemplary performance of your employees by rewarding them with opportunities for growth. Let me share a personal story. Before I got accepted as an educator for an international school, the President highlighted that I will be boxed in a single position for long. He wants us to travel with him to ensure that the school aligns with the global standards of the “main branch”. More so, training will be provided to ensure that we are professionally ready to acquire various roles of the school. Growth is one of the main reasons why I committed for a long period of time.
Growth can be passed down to the employees through seminars and classes that will prepare them for more responsibilities in your company. Afterwards, promote the employee who has manifested that he or she is ready for the next step.
#2: ACCEPT COMMENTS AND SUGGESTIONS
The plain act of being heard transmits a signal that you value your team. Listen to the opinions or complaints of your employees by establishing a company intranet. An intranet is similar to a social media networking platform, but it is exclusive to the company. An inexpensive way to set this up is by creating a closed-group Facebook page. Allow your employees to post their ideas on the wall. Please reply diligently.
Give credit to the person who came up with the brilliant idea. And, do not forget about the organization who brought the idea into fruition.
#3: SHARE THE GIFT OF TIME
What better way to reward your employees than by giving them one currency that you cannot replace – time? Employees in Singapore pose so much value to their work. If your company works on a fixed schedule, you may consider offering the flexitime incentive to the high-performing employees.
The schedule in my first job followed a 48-hour cycle per week (including overtime). This is similar to how most companies operate. Due to the distinctly long and stressful shifting hours at the office, my rest days were deeply treasured. I shifted to freelancing after a year. I realized that flexibility in time weighs more than any cash incentives I received in the past. Some of your employees may feel the same way.
#4: SURPRISE THEM WITH THE WHEEL OF PRIZES
Turn the fun meter up a notch by creating a wheel filled with attractive prizes. Keep your employees motivated by hosting an “Employee of the Month/Term” competition whereby the winner will be able to spin the wheel. The beauty of this wheel is that you will be able to manipulate the prizes based on your budget.
Image Credits: pixabay.com
Here are just some things that you can put on your colorful wheel:
a. Gift cards such as a S$25 card from iTunes or a S$50 card from Takashimaya,
b. Voucher for an extra paid leave,
c. A personalized trophy (i.e., make sure it is shining),
d. An electronic announcement of the specific accomplishments via team email, or
e. A free pass to the latest film in the movie house.
