How to recognise your employees with little or no budget
Over the last few years, leaders have been working with reduced merit budgets and are challenged to reward high performing employees with less. How often have you heard managers complain they’re struggling to motivate and retain their employees?
HR teams have now a unique opportunity to innovate their recognition schemes and to align them to their total rewards strategy, talent management strategy and core company values.
Recognising the employees’ behaviour as valued by the company is now being done by 58% of companies as SHRM/Globoforce discovered for their 2015 Employee Recognition Survey Studies also confirmed that non-financial rewards can increase employee engagement, morale and create a positive work environment.
Moving away from a peanut butter approach, companies can create meaningful and individualised rewards for both intrinsically and extrinsically motivated employees. Leaders can recognise teams in a united group while peers can show highly personalised appreciation of their colleague.
Here are our top 5 non-financial rewards which don’t break the bank:
For the individual:
- A hand-written thank you note. Never underestimate the impact this simple deed has.
- Arrange a basket of fresh fruits and healthy snacks.
- Offer a reserved parking spot near the office entrance for a week.
- Eat lunch with a member of the senior leadership team of their choice.
- Mentoring sessions from a manager or senior employee.
For the team:
- Provide a catered breakfast for the team.
- Host an ice cream party. Much appreciated especially during these hot temperatures.
- Increase their lunch break time for a week.
- Letting them leave early on the last day of the working week.
- Put up a picture of the team and add it to the “wall of fame” in your reception, cafeteria or social area.
- A thank you video from the team, great for teams spread across different sites or countries.
- Have each team member write a positive statement about the employee on a thank you card. Alternatively, they can write on a picture or poster, which will be framed and then given to the employee.
- Award the employee with a walking office trophy, which circulates from one recognised employee to the next one.
- Bring them their favourite morning beverage for a week.
- Let the employee choose their next special project.
Are you looking to implement an employee recognition programme but aren’t sure how to link it to your total rewards strategy? Contact us and find out how we can create a programme fit for your company and culture.