Hiring exceptional employees isn’t easy. Keeping them is even tougher.
As an employer, it is your responsibility to identify high achievers and reward them appropriately. Employee recognition programs can help encourage workers and motivate them to be their personal best. Recognizing employees can help your business in all kinds of ways, from increasing attendance to decreasing accidents to simply raising productivity — but you can do it without necessarily writing a bonus check.
Although nothing quite beats a few extra bucks on your paycheck, other types of rewards can be equally satisfying for your employees. Here are a few ideas.
1) Extra time off – A few extra days off each year with pay are a welcome gift for just about anyone. Hand out vouchers to your best and brightest as a way of saying “Thank you!” for everything they have done for you and your business.
2) VIP parking spaces - Lugging a laptop bag up the ramp of a parking lot seldom tops the “Fun Things to Do at Work” list. Reserve a few places close to the front of your building for Employees of the Month. This will be one prize worth fighting for!
3) Raffle tickets – Hand out raffle tickets when employees do something special — with extra tickets for extra effort. Periodically pick a winner at random and award them a prize for their efforts.
4) Plaques and trophies – A personalized award can go a long way in boosting morale and makes for a more handsome office decoration than Star Wars figurines.
5) Award ceremonies and banquets – Throw a periodic party and recognize the top contributors to the company out loud and in detail. Allow guests to make the event extra special.
Giving credit where credit is due can help you establish a better relationship with your employees. Take a few moments to think about what an employee recognition program can do for your business. Chances are, you’ll come up with some awards on your own that will help bring out the best in your workers.