Employees are the backbone of any company. They come in day after day, working hard to make their companies successful. Whether it be through rapport, recognition, or rewards, companies should be sure to express their appreciation for employees. This reinforces good work habits by giving them an incentive to always do their best. Below are five unique ways companies reward employees:
1. Affirmation for Specific Achievements
The best way to show appreciation is to tailor a reward to the individual and what it is they’re doing well at. What motivates one employee may not be what motivates another.
That’s why it’s important to get specific when you recognize an employee. Consider what they have done that has positively impacted the company, and let them know how much you appreciate their efforts. For example, a company can review its time clock software to recognize employees who are consistently present, punctual, or working longer hours.
Managers should be sincere in their praise and let the employee know how their efforts have contributed to the company’s success. A sincere and specific affirmation will go a long way in motivating employees and showing them that their hard work is appreciated.
2. Monetary Bonuses Or Gift Cards
One popular way companies reward employees is with monetary bonuses or gift cards. This can be a great way to show appreciation for a well-done job and motivate employees to continue working hard. If you decide to go this route, make sure you choose an amount that makes sense for your company and will be meaningful to your employees. You don’t want to give too little, as they may not appreciate it, but you also don’t want to break the bank. A nice range for a monetary bonus is $25-$100, depending on the position and seniority of the employee. Gift cards are also a nice option and can be tailored to the individual’s interests. For example, if you have an employee who loves coffee, you could give them a gift card to their favorite coffee shop.
3. Personalize Employee Rewards
Companies should consider individual employees’ preferences and needs to personalize employee rewards. By doing so, companies can create a system of rewards tailored to each employee, leading to greater workplace motivation and satisfaction. Additionally, personalized rewards can show employees that their company cares about them as individuals and is willing to invest in their growth and development.
4. Invest in Their Continued Education
Employees who receive regular training are more engaged and productive than those who don’t. For these reasons, it’s in a company’s best interest to invest in their employees’ continued education.
There are several ways companies can do this. Some companies offer tuition reimbursement programs, which help employees cover the cost of tuition and other fees associated with taking courses. Other companies offer paid time off to attend conferences or take courses related to their field.
Still, other companies have their internal training programs. These programs can be anything from formal classroom-style instruction to more informal on-the-job training. Regardless of the format, these programs allow employees to learn new skills and improve upon existing ones.
Investing in employee education is a win-win for both employers and employees. Employees get the chance to develop their skills and knowledge, while employers get a more engaged and productive workforce.
5. LinkedIn Recommendations
LinkedIn recommendations are a great way to reward employees for their hard work and dedication. By writing a positive review or testimonial, you can help your employees stand out from the competition and attract new opportunities.
When it comes to LinkedIn recommendations, quality is more important than quantity. A well-written, thoughtful recommendation can be much more valuable than a generic one. Here are a few tips for writing LinkedIn recommendations:
- Keep it positive: Focus on what your employees have done well and what you enjoyed working with them.
- Be specific: Include concrete examples of your employees’ skills and accomplishments.
- Keep it brief: A few sentences are all you need to write a powerful recommendation.
- Personalize it: A personalized message will make your recommendation more meaningful to your employee (and LinkedIn users).
It’s great that companies are getting creative with their employee rewards programs. By offering unique and thoughtful rewards, they show their employees that they are appreciated and valued. More and more companies are following suit and starting to implement similar programs, which can only lead to good things for the employees and the company.