8 Inexpensive ways to Reward Your Employees

As leaders of teams and companies, we are missing the mark in a critical area, employee recognition. According to U.S. Department of Labor and Statistics, individuals that voluntarily leave work cite lack of appreciation as one of the major reasons for leaving. In addition:

  • 69% of American workers say they would work harder if they felt their efforts were better recognized.
  • 78% said being recognized motivates them in their job.
  • When managers recognize their employees’ performance, they increase employee engagement by nearly 60%.

Effective employee recognition can drive performance, increase retention, and impact your bottom line. Luckily, it doesn’t take a lot of money or planning to create a recognition program. Check out these 8 simple, thoughtful, and low or no-cost ideas that leaders can use to give employees the recognition they deserve.

  1. A handwritten thank you note. Keep blank note cards in your desk and drop a quick note to your team with your sincere thanks. Be timely in delivering the note after the great work.
  2. A simple and sincere "Thank you!" or "Great job!" If you work in the same building as your employee, call them into your office and deliver the message in person. If you work in a remote environment, a simple phone call works well. Since many employees don’t always assume the best when they are called by their manager, they will be especially pleased to receive your recognition and appreciation for a job well done.
  3. An e-mail to your employee that copies your boss. E-mail is the most used method of communication at work so it can be a quick and informal way to send recognition and appreciation. If you choose to send a thank you via e-mail add your management and other stakeholders for wider visibility and recognition.
  4. Food or Beverage. Think of a fun way to celebrate your employees and keep them well fed. One idea is donuts when working on public holidays or lunch delivery when you are working on a deadline. Some management teams have cooked pancake breakfasts for their staff to appreciate good effort or a job well done. Be creative and have fun!
  5. Get to know each other. Add an employee highlight part to your team meetings, or create a wall of fame. Celebrate all accomplishments or milestones, not just work related achievements. For example if a team member is running a ½ marathon, learning a new language or doing some volunteer work share that with the entire team.
  6. Free Friday. Give your team a few hours off on a Friday to do whatever they want. If you have morale budget give them make it available and send them off into their weekend early.
  7. Coffee with the boss. For some this may seem like a punishment rather than a reward, but 1:1 time with a key leader in the business is a great reward for work well done.
  8. Create a monthly or quarterly award program. Create several award categories that align with the key goals and objectives of your team, or create a single superstar or MVP award. Create or buy something that can be displayed such as a certificate, an inexpensive trophy or a simple rock painted gold. Give the award a title such as the "You Rocked it” or "Made it Happen” award.

Don't delay appreciation. Recognizing and rewarding your employees for their contributions will help you create an engaged and productive team.

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