Your employees are the lifeblood of your business; without them, you may not even have a business. Recognizing your employees’ hard work and contributions can promote employee satisfaction and productivity.
Employees want more out of their careers than money. While everyone works to earn a living, they also want to feel like their contributions are part of a greater goal. Making them feel as important as they are to your business can help you retain top performers while supporting your business objectives.
So how can you reward employees for their hard work? Keep reading to learn a few ways to recognize your best performers.
Write ‘Thank You’ Notes
Handwritten letters mean you’ve taken the time to think about your employees’ contributions. All employees are expected to perform their duties, but those that perform well deserve something extra to make them feel appreciated. Think of employee recognition as a type of positive reinforcement.
Handwriting a letter to your employees is simple and fast. All you need is some nice stationery and a few minutes to write a thoughtful note that tells employees how much you appreciate them.
Awards
Employee awards are a public way to recognize employees and their efforts. Some employees may prefer a more private recognition, like a handwritten letter, but many like being rewarded or recognized in front of their peers. Of course, you don’t have to make awards or recognition plaques for every achievement. Instead, use these for major achievements only, such as anniversaries or annual awards for top performers based on their work.
Physical Rewards
Physical rewards like gift cards are another great way to recognize your employees for their hard work. While they’re already earning a salary, employees will appreciate any extra compensation you give them, and top performers deserve more. You can use simple VISA gift cards or offer a gold IRA to strengthen your bond with your employees and make them want to work harder.
Another way to compensate your employees is to give them additional days off for their achievements. Consider doing this when they could use some extra time for themselves. For instance, after major projects, when employees may need some time to recuperate, it’s a great time to give them some extra time off, whether it’s full days or half days. Additionally, some companies may offer investment options for your company.
Make a Donation
Charitable donations are a great way to involve employees in giving when they can’t necessarily afford to make their own contributions. If you want to recognize an employee, ask them to choose a non-profit they’d like to donate to and make a charitable donation in their name.
Yes, a financial bonus is good for employee retention, but donations can make an employee feel more emotionally attached to the business and their chosen cause. Even though your employees won’t be getting money in their pockets, they can support a non-profit, giving them more satisfaction.
Professional Development
Again, employees don’t work for just money. Many want career development to help them improve their skills, learn something new, and earn a higher salary. You can foster a more supportive environment by offering professional development to reward your employees.
Professional development opportunities can help your employees grow their careers, so investing in it throughout the year and allowing top performers to learn new skills can improve employee retention and overall performance.
Buy Breakfast or Lunch
Everyone loves free food. Rewarding your top performers with a special breakfast or lunch can make them feel like the company notices their accomplishments. In addition, it allows you to get to know your employees better by spending time with them during meals.
During these special meals, you can learn more about their interests and desires while talking to them more personally. If you’re a manager and don’t get to spend as much time as you’d like with your employees, these meal meetings can help you determine what they’re looking for in a job and how you can give it to them.
Promote Them
The best way to recognize and reward employee dedication is to promote it within the organization. While there might be individuals with more experience outside the company, investing in your employee’s professional development and growth by promoting within can improve employee retention rates and morale.
In addition, promoting your employees saves time because they already know everything there is to know about your business. For instance, promoting a marketing assistant to a marketing manager means spending less time teaching them about the business’ offerings while improving their satisfaction within their roles.
Give Them Special Tasks
You may not be able to promote all of your top performers. However, you can give them special projects that allow them to become leaders while taking a break from the day-to-day tasks they’ve become accustomed to and potentially bored with. Of course, if you expect your employees to take on more work, you should offer them a higher salary.
However, you can use these special tasks as a trial run, allowing them to see whether they’d like a similar yet different role within the organization and allowing yourself to see if they might be a good fit for the leadership or management teams.
Flexibility
One of the major benefits employees are looking for isn’t high compensation—it’s flexibility. Working from home and having more flexible hours can improve employee satisfaction and productivity. Of course, when offering flexibility, we recommend having a fair policy. You can determine the guidelines for what an employee must achieve to qualify for this type of flexibility, giving everyone within the organization the same opportunities.
Providing top performers with flexibility shows that your company cares about their well-being and wants.
Final Thoughts
Keep in mind that employees should be treated equally and fairly, so you should have clear guidelines for what makes an employee a top performer, especially if rewards include things like flexible schedules and professional development opportunities. Your company may not have enough resources to offer these rewards to everyone, but having a clear set of metrics or guidelines can help employees understand what to strive for.
Ashley Nielsen
Ashley Nielsen earned a B.S. degree in Business Administration Marketing at Point Loma Nazarene University. She is a freelance writer who loves to share knowledge about general business, marketing, lifestyle, wellness, and financial tips. During her free time, she enjoys being outside, staying active, reading a book, or diving deep into her favourite music.