December 6, 2016

How to Reward Employees Without Killing the Bottom Line

Christmas parties, company gifts, and bonuses – oh my!

As a business owner, you are making many decisions that have a financial impact on your company.  During the holidays, it may seem easy to cut parties and bonuses for your staff, but what are the consequences? Remember how Clark Griswold felt after receiving a membership to the jelly of the month club? Avoid being kidnapped in the middle of the night by Cousin Eddie. There are ways to reward your employees without sacrificing the bottom line, if you are not against a little creativity.

Non-monetary gifts of appreciation go a long way and increase morale, productivity, and loyalty. Here are some ideas that will create a positive buzz in the workplace:

  • Cater in a special breakfast or lunch.
  • Stock the break room with employees’ favorite snacks.
  • Create a wall of fame – recognize outstanding employees for their efforts.
  • Call off work for the afternoon and celebrate successes together – this promotes unity.
  • Hand out traveling trophies (these can be serious or silly), which are passed on to different people year after year.
  • Handwritten notes are very meaningful. Jot down a personalized message letting your people know you appreciate them.
  • Give an hour – if there is a slow period, give your people an hour for themselves. Time is precious. During the chaos of the holidays and extra hour just for them would be remembered forever.

This season, remember that showing your employees they are valued does not have to be expensive. In fact, the kind words and recognition stay with people longer than money and lavish parties.

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