Numerous studies have shown that money alone won't fully motivate employees. Sure, moolah is important, but employees respond to recognition and other non-cash perks as well. An occasional pat on the back for a job well done goes a long way.
Hiring mistakes cost thousands of dollars, so you can see why keeping your employees happy is key. Rewarding your employees helps you:
Create an employee motivation program
Decide what qualities you'd like to encourage -- punctuality, high sales volume, initiative, a high number of positive customer remarks -- and reward employees who show those qualities.
I recommend: Create a plan that ensures fairness, does not cause discord (as "employee of the month" programs often do), and doesn't create a sense of entitlement. Check out these
tips for recognizing employees on About.com.
Just say thanks
A simple handwritten thank you card can make a huge impact on employees.
I recommend: At
iPrint.com, you can design note cards that match your business stationery. You can also order fashionable blank notecards or thank you cards at
Target. When writing the note be specific about what you're thanking the employee for and the impact it had on you and your business.
Take them away
Reward your employees with a trip away from the workplace.
I recommend: Organize a regular employee outing to a fun venue, such as a lake or beach.
Travel America Inc. offers employee incentive travel programs; you can send your best employees to a sporting event, to a fun city like San Francisco or Orlando, or on a cruise.
Bellwether Rewards offers travel rewards ranging from a hiking trip to an Alaskan cruise.
Give gift cards and certificates
Instead of guessing what your employees would like, give them gift cards.
I recommend: Drive or surf to a store like
Barnes & Noble,
Target, or
Starbucks and pick up gift cards. Or buy cards from hundreds of merchants at
GiftCertificates.com. If your employees commute to work, get them gas cards. You can purchase cards at your local gas station or get cards at
SVM.
GiveFun.com lets you give certificates for spas, travel, entertainment, and more.
Whaddaya want, a medal? Yes!
Give your top-performing employees an engraved award or a framed certificate boasting of their achievements.
I recommend: Big Sky Awards and
JGE Awards and Promotions sell a wide variety of engravable awards. Office supply stores like
Staples offer award certificates that you can run through your printer.
Hire someone to do it for you
Too busy to create an employee rewards program? Let someone else handle it for you.
I recommend: Loyaltyworks manages your employee rewards program and lets your employees choose from a list of brand-name products and travel rewards.
CorporateRewards.com offers a small business option for businesses that need only a handful of rewards at a time.