As you may already know, I run my own company called Smobble. It’s a compact team with epic members. Together we delve into all aspects of Internet marketing. Testing, trying and perfecting.
Now all employees look forward to their bonuses. Let’s admit it.
But sometimes, when the company is small (I have a staff of less than 15 people) or has just started turning a profit, they can’t always afford to reward their workers with the coveted cold, hard cash.
This when employers have to get creative.
What other ways can they show their appreciation to the people who work hard for them day in and day out?
Here are:
6 Ways to Reward Employees that don’t involve money
1. Awards, Recognition & Love
We’re only human, and humans have the basic need to be recognized for their efforts.
And I’m not just talking through prizes and trophies.
Even using simple sentences such as “You did a great job” and “Thanks for your help” can go a long way in showing a person that they and their work are appreciated.
If you’re not so great with saying things, try writing a thank you note or email, or make an announcement during a team meeting.
Better yet, be creative.
At my company, Smobble, we split test all aspects of our product launches. From color to copy and everything in between.
So to make things interesting, I decided that if any member of my team felt they could improve conversions through their input, and they did, they would receive an action figure of their choice. Sounds silly. But in a company like mine, well, it works. Plus they get bragging rights over me. Which seems to keep them very happy.
You’d be surprised how simple gratitude can make a person feel… and in the future, they’ll perform much better because you took the time to let them know that you value them.
2. Flexi-working hours
Who wouldn’t want to have more flexible hours?
It’s part of the dot com lifestyle that I encourage in all my employees.
That’s why senior managers are given the option of working from home once a week, and other employees can choose their working hours.
The ability to manage their own time leaves them more freedom to spend time with friends and family, or kick back and relax with their own activities.
Not to mention that giving employees more flexible hours doesn’t just give them the ability to manage their own schedule, but it shows them that you, as their boss, trust them enough to do so without cutting down on their productivity at work.
In fact, here’s a secret: more flexible working hours has actually been shown to increase an employee’s drive and motivation to work.
I, for one, have a productivity level of below zero before lunch. And through experience I know that I only give my best in the evening til the wee hours of the morning.
So play on the strengths of your employees by allowing them to pick their hours, then make it into a set schedule.
3. Learning Opportunities
It doesn’t hurt an employer to invest in his/her employees.
In this case, I’m talking about investing in the employee’s education: sending them for training, seminars and the like.
This benefits both the company and the employee because
1) it improves the employee’s value and performance in the workplace
2) it provides an opportunity for the employee to advance in their career in the future
Employees will also appreciate the opportunity to add to their skill repertoire, and will be less likely to leave for another working environment that allows them to keep their skills up to date.
If you’ve been following my blog then you’ll be well aware that I am a personal growth junkie.
Whenever there’s a world-class seminar going on, I’ll be there in the front row with my team.
And of course, we hold weekly optional training sessions in the office. This month we’ve been going through High Traffic Academy with Vick Strizheus and it’s been great. We learn and bond and generally get to hang out together at the same time.
But on top of that, I encourage my team to take one hour off a day to do whatever they want that will advance their learning.
Some opt for French lessons, others delve into copywriting, guitar playing, their own online businesses…
Whatever they choose, that hour a day is dedicated to their personal advancement.
4. Improve the working environment
Google did it.
And I advocate a working environment that is conducive to both work and play.
If you’ve never visited my office before, it looks something like this: beanbags, TV, pool table, PS3, more beanbags and multiple chill out areas. The only problem with this is my team never want to leave…
There have been many days when I’ve gone home and they’ve stayed back to do God-knows-what.
Of course, if you’re a small, start-up company, your office surroundings are likely to be less than ideal.
That’s even more reason to upgrade.
You don’t necessarily need a bigger office space… but providing an employee lounge, a kitchen, or even just improving the layout can make a huge difference in employee morale.
Think of it this way: the quality of the work environment can and will affect the quality of the work that is done.
5. Independence
Most employees don’t like it when their boss – or anyone else, really – is constantly watching and nagging or looking over their shoulders as they work.
They want the freedom to do their work without someone questioning every move they make.
So when giving out work or assignments, give your employees a certain timeframe to get everything done, and then step back and give them the independence to complete everything themselves – within the guidelines and framework that you have set.
I know that doesn’t sound like much of a reward, but yes, independence and autonomy is something every employee values in the workplace.
6. Vacation
Okay, so this usually involves spending money.
But it doesn’t have to cost a bomb.
If going out of the country is too costly, consider having the company holiday somewhere local, or taking a personalized vacation package which can be adapted to your budget.
(Lucky for me I live in Malaysia where it’s beaches and sunshine all year round!)
Company retreats, paid vacations or even sending an employee somewhere for a work function is definitely a good way to reward your hard workers.
Company vacations can be used for team bonding and relieving stress, which benefits the company and your employees in the future.
I’m planning to join a charity organization called Epic Homes which actually builds homes from scratch for underprivileged families. I’ll be bringing my team along for the 3-day, 2-night adventure that will not only provide and help the less fortunate, but strengthen the team bond at the same time.
And it’s going to be fun. I will force everyone to be happy 😛
