If you would like to motivate and reward your employee for his or her great performance at work but don’t have enough monetary resource to give a pay rise, then worry not, there are several other ways to reward them! Although we think money is the most preferable reward but it might not be feasible to reward them with a raise for every employer. So here are the 10 ways through which you can reward your employee
Two-three days holiday
One of the best ways to reward your employee for his sterling job is to give him or her two-three days holiday apart from their current holiday allowance. It will give them a flexibility of taking a long holiday or a break to go to their hometown or to travel for leisure to any other destination. They may even use these holidays to laze around at home.
It is one of the popular and interesting ways to reward your employee. Just find out what they like doing and what interests them and get a voucher along those lines. It can be a spa voucher or a extravagant lunch at a five-star hotel.
Enhanced job title
Money is not the only important part of a job. Some people look for a good designation, better work opportunities and progression apart from the salary they get. So why not give an improved designation to your employee as a reward for the hard work. For example if someone is a sales executive, promote him to senior sales executive.
It is one of the best rewards you can give to your staff. Offer them a training course that matched with their job profile. This will not only improve their contribution to their existing role but also help them progress in their field. It will boast their morale.
Plan an outing
It might sound a little old-fashioned to take your employees out to a restaurant or a club for food and drinks but it can really work wonders. It is not just about the food that would make them happy but the thought that you care for them and acknowledge their efforts which is no less than a reward for them.
Acknowledge them in the office
Acknowledge their hard work and efforts in the office in front of everyone and share few encouraging words about them with the rest of the team. Set up some company award like Employee of the Month etc. and can even take the entire team out for lunch to celebrate the achiever’s success.
Honour them with a letter of thanks
Write a personal letter of thanks to the employee as it would be a great way to appreciate his or her efforts and they will also feel motivated as it will give them the feeling that you value them and notice their good work. You can directly mail this letter to their home address rather than putting it on the desk. It does make a difference!
Upgrade their desk area
You can offer the achiever a better and more spacious desk space which will not only give him or her that rewarding feeling but also a signal that they are moving towards progress in the company and are viewed as assets for the company.
Ask them what they want as a reward
If you are not so clear about how you can reward them, directly ask them what they want as a reward instead of a pay hike. You never know someone might want some flexibility in the timing, some might ask for a longer lunch break etc. That is something you can offer.
Give them one-on-one mentoring
If you can personally mentor them in their work field for few days, it would be a great reward for them. However, this can only happen if they really look up to you and want to spend some time with you to learn new things. Another option is that you can arrange some training sessions from outside to help them reach where they want to reach in their career.
So don’t think what you can reward your employees with in case of financial crunch, rather pick up any of the above options that suit them and go ahead!