Rewarding your employees is costly and companies most of the time try to avoid it. A reward does not have to be financial or a cost to a company e.g. gym subscription that the company buys and offers it for free to the employees.
There are several other ways to reward and motivate employees that do not cost much. Here are some suggestions:
- You can thank your employees every time they successfully complete a task
- Recognise they stay back after working hours to finish a report an urgent deliverable
- Praise them during team meetings
- Go for lunch with them
- Praise them to your boss and ask your boss to write a small email recognising their hard work
- Have a Donut Friday where you bring donuts for everyone (it does not have to be every week)
- Offer pizza when they work late hours
- Include them in team emails if they have done an outstanding job
- Learn their hobbies and offer something that complements it
- Give small value vouchers to employees that work long hours
All these small employee rewards will yield happy workers and happy workers are more productive. Appreciated workers make great employees and in a recent survey more than half of the employee stated that they will leave their jobs if they don't feel appreciated by their management.