A company or organization can only achieve success through the hard work and dedication of its employees. Those employees need to feel motivated and empowered to produce excellent work.
Finding ways to inspire employees is one of the challenges of today’s managers. The conventional solution is to throw money at the problem in the form of bonuses. The best managers know how to lead without writing checks. Plus, in today’s economic climate, rewarding employees with cash is tough for many businesses.
Creating a compelling incentive for an employee (or an offer to a candidate) doesn’t have to be centered around pay. Here are some powerful ways you can reward your employees (and boost their happiness and loyalty) without writing bonus checks.
Saying “thank you” behind closed doors is well and good, but we’re social animals that like others to know about our accomplishments. Find ways to acknowledge your employees in public forums, like company newsletters, meetings, or memos. Make sure to document exactly what the employee did above his or her job so you set the standard for others to excel as well.
Perks are simple ways to make the workplace a bit more comfortable for your employees. Things like free coffee and snacks, free lunch, or even elaborate benefits like a daycare facility or pick-up dry cleaning are excellent ways to make your staff feel like the company is taking care of them. Furthermore, an employee perceives the value of these perks higher than they actually cost you. (For example, an employee values a bottle of water at $2 because that’s what they would pay, but you pay less by buying in bulk for the office.)
For many people, a flexible schedule that can adapt to their lives is worth more than money. A schedule they can adjust within reason may reduce their time spent in traffic, save a few dollars with their daycare provider, or give them a chance to spend more time with their spouse. When work stops being an obstacle in their life, you greatly improve their happiness.
Opportunities to Develop
Career-minded people are always looking for ways to improve their resumes and skill sets. Give high-performing individuals the tools they need by investing in their education through classes and conferences. Place them in positions of authority and responsibility within your company where they can lead others and improve professionally. Not only will this help your employee grow, but it also strengthens their commitment to your company.
Ask Your Employees
Before doling out what you think your employees want, ask them directly how you can help them do their job better, improve productivity, and improve their work/life balance. You might be surprised at what they find valuable.
Human Resource Director