Contrary to what your employees may tell you, studies show that more income does not always equate to better on the job performance.
That's why it's so important to realize there are other ways to keep employees working hard, passionate about their position, and ready to give their best to your company as much as humanly possible.
To help you with that, I decided to share with you some creative strategies that can generously reward your employees without causing you any financial distress.
Here Are Some Cool Strategies To Reward Your Employees For Great Work
Strategy #1: Name A Company Holiday In Honor Of Them
Ever had an employee who was worth a million bucks? If your budget doesn't have room for their million dollar salary, then consider creating and naming a company holiday after them that you celebrate annually.
This way your employee will always be remembered for their tremendous effort, and you'll be able to acknowledge them in a very memorable way without spending large amounts of money in the process.
Strategy #2: Reward Your Employee With An Unexpected Vacation Day
If you ever notice that your employee is performing at an exceptionally high level and you want an inexpensive way to reward them, please do yourself a favor by awarding them an unexpected vacation day. If the employee is on salary, this won't cost you a dime. If the employee is on an hourly wage, simply pay them as you previously scheduled and allow them to enjoy some much needed relaxation time on your dime.
If you aren't sure when to reward an employee with this strategy, worry not my friend and simply give them a Friday off from their obligation to your team when you see fit. This way your employee can schedule a 3-day weekend with their friends, they'll talk about how much they enjoy working for you, and chances are they will come back fresh and rejuvenated the following Monday at an even higher level of performance from their time off.
With all those positive benefits, you'd be absolutely foolish not to implement this strategy into your business!
Strategy #3: Publicly Acknowledge Them To Your Team
One of the best ways to reward an employee who is performing exceptionally well is to publicly acknowledge their excellence in front of your team.
Why? Multiple reasons:
Reason #1: It shows your team, that you're actually focused on what they do well, not just what they need to be corrected on.
Reason #2: It motivates other team members to work hard so that they can also be acknowledged.
Reason #3: It motivates the person who is actually being recognized to continue to perform at a high-level.
Reason #4: It doesn't cost you a penny, and the R.O.I. is priceless!
With that in mind, be sure to use this powerful strategy as you see fit in your business, o.k.?
Strategy #4: Surprise Them With An Amazon Gift Card
One of the coolest things that you can do to motivate one of your team members is to send them an Amazon gift card.
Why? For starters, Amazon has a wide variety of great things that your team member can choose from as a reward.
Secondly, every single time the employee uses what they purchased with your rewards card, they will remember that it was you and your generosity that was the vehicle for them to enjoy their cool new amazon toy.
Lastly, your team member can purchase great gifts on Amazon for 10-25 dollars, and they can use your amazon gift card towards something that's more expensive allowing you to acknowledge your employee in a very cool way without breaking the bank.
Strategy #5: Give Them A Handwritten Thank You Note
In today's fast-paced technological age that you and I both live in, the value of a handwritten thank you note is exponential due to how little we write today as a society compared to people in the past.
With that in mind, take 5-10 minutes out of your day, grab your favorite pen, a piece of paper and write your employee a personal note of gratitude for their outstanding service to your organization.
At this point, the only real expense is your effort.
I am 100% sure you can sacrifice some YouTube time to do this for your special employee and I am also supremely confident that your random act of kindness will be a welcomed reminder to the employee of how much you truly care for them.
Are You Cheap Or Just Lazy?
After reading today's blog post you literally have no excuse but to acknowledge the effort of your team.
After all, they are truthfully what keeps your team operating on a day-to-day basis, so it's only fair that you acknowledge, and reward them for their effort.
Best of all, the strategies you learned today can start working for you today unless you're simply too cheap or too lazy to implement them.
If that's the type of person you are, then the only person who can overcome those character traits is you.
(My advice to you is to nip them in the butt as soon as possible!)
Have a great day, and I'll see you at the pinnacle of your success!