To start off 2008, I decided to compile a short list of effective yet inexpensive ways to reward your best employees. This will help retain your talented people and help make work a more flexible, fun and productive place to be. As everyone knows, there are two basic types of employee rewards - monetary and non-monetary. Since my specialty is not setting salary ranges, I will stick to the non-monetary rewards. Some business owners and leaders think that small gestures of recognition may be lost on their most talented people. After all, they are great because they are "self-motivated" - right? Not necessarily. Even the most internally driven among us appreciate a "great job" or "thank you" for a job well done. Of course, you don't want to overdo it, or make rewards so frequent that they lose meaning. However, don't discount the value of rewarding exceptional people or outstanding performance. Since everyone has different "shine buttons," I will list several that can be used with different people at different times. The key? It is up to you to find out which reward fits which rock star.
Time Off - You may be surprised to learn that many individuals would rather have time off than money. This can be awarded in several ways - a "sleep late" ticket that allows the individual to come in 1 hour later than usual to sleep in, grab a coffee or spend a.m. time with family is a great idea. On the opposite end, is the "early release" coupon. Maybe the person has a nail appointment to make or an early dinner date? Finally, for a more significant accomplishment, a day off or long weekend may be the perfect thank you.
Food, Food, Food - Yes, it's true. People love to share a snack or meal with co-workers and friends. Breakfast on Thursday? Tuesday sub sandwiches? Or Friday potluck for those on a tight budget. Whatever the occasion, reward the team with a nice meal and some time to share it. What about the individual who accomplishes great things? How about a thank you luncheon at a nice restaurant with the supervisor, boss or CEO? Be creative. Appetites are unlimited.
Flexible Schedules - In today's busy world, many great employees juggle to get the kids off to school, run the errands, volunteer for charity, exercise the body and mind - all while doing 110% of their best work. A great reward is to offer flex time and varied schedules to ensure that the best people have their best opportunity to be the best!
Public Recognition - Many companies have great success with a weekly, monthly or quarterly recognition program for their teams. Be sure there is a clear set of guidelines for achieving the award so it does not become a popularity contest or something without real meaning. How to ensure this? Involve team members in setting up the award guidelines so that they have a part in deciding what it takes to be names the best!
Team Time - Teamwork can not be over rated. Arrange some team rewards that will help team members bond and grow together. Find out what their interests are. Talk to the members. Have team members create the event. Bowling? Paintball? Camping? Golf? Maybe the team wants to adopt a family during the holidays or volunteer time at a charity event. Whatever you choose, try to get the team away from the office, or at least away from their desks. A little play goes a long way!
These are my top five for January. Feel free to add additional ideas in a post. Whatever you do, don't forget to thank your team!
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