subject: Ways To Reward Employees [print this page] Talent retention is a very important and crucial aspect for the growth of an organization. Many employees work really hard for the company, expect the employers to recognize their efforts and reward them suitably. However in the present tumultuous economic scenario it becomes very difficult for many entrepreneurs to give a hike or bonus to the employee. Employers must understand that some employers work wholeheartedly, they work for a longer time than they are supposed to, just because you cant afford to hire another employee. Such employees definitely deserve a reward and if the company doesnt reward them they perceive that their future is in not so bright. Ultimately they might switch over from your company to some other or may be your rival.
The above mentioned state is a sense of concern for many entrepreneurs who have just started off with their venture. They do understand the fact that the deserving employees must be rewarded but can/t afford to raise their salary. This article will put a halt to the worries of all such entrepreneurs. Below are some of the very feasible and effective ways to reward your employees-
1. Gift a skill enhancement course: One of the best ways to reward a deserving employee is to gift him a skill enhancement course. It serves very well both for the employee as well as the company. The employee cheers up with a course as pursuing the course would increase his worth. It also gives a sense of smart investment to the company as the course would increase his efficiency towards the work, for e.g. an accountant can be gifted a Sage eLearning course for accounting. It will serve for the mutual benefit of employee and company.
2. Allow them to work on side projects: Many employees wish to work in a different department although they are skilled in another in which they regularly work for your company. This inclination towards another work might be due to their hobby or fascination towards that work. It would be wise enough to allow them to work on a side project towards which they are inclined, once a week. If they work impressively you may want them to work in that department for more. And let me tell you that chances are bright that they would work much better in a side project as they do it passionately.
3. Perks to individuals: Give perks to individuals as a sign of acknowledgement to their efforts. These might be anything in any form. You may give restaurant vouchers, discount coupons, movie tickets etc. You may also give a training course to the employees as perks (similar to the Sage course given to the account) if one is much interested in upgrading his skills.
4. Embed happy hours in working hours: This is an out of the box idea for rewarding not just an individual but all of you employees. Embed happy hours in working hours. Play music; throw small eatery parties and offer pints, if and only if possible. After all nothing is as charming as a pint in lunch and dont you know that? Do it once in a month and I bet you it would cheer up all your employees and they would no more be just employees but happy employees.
