How do I acknowledge and reward Employees?

The good news is that when it comes to staff recognition, many employees place an equal value on non-monetary perks as they do on monetary ones.

Here are 7 budget friendly ideas to recognise and reward employees:

1. A sincere thank you can boost an employee's sense of gratitude and be very encouraging. When Thanking the Employee choose a method that best suits the individual. For instance, while some employees prefer a deliberate "thank you" in a smaller team or one-on-one meeting, others find great satisfaction in receiving formal public recognition.

2. Another method of rewarding great performance is to provide employees the opportunity to develop a career progression plan in order to accomplish their objectives. Many employees are highly motivated by career development. It compliments their outstanding performance today while also expressing your interest in their future.

3. With the use of social media and recognition-specific tools you can recognise employees who go above and beyond. Peers and supervisors can recognise exceptional performance, and results can be shared to promote success.

4. Promote a worker who has achieved the necessary benchmarks and goals when the opportunity arises.

5. Provide Employees with Professional Development and Training. This can be accomplished in a number of ways, including through cross-departmental collaboration, coaching, mentoring, attendance at conferences, internal and external Training and Development.

6. If possible you might also think about rewarding a great performance with flexible hours, which give Employees the freedom to adjust their work schedule outside of normal business hours.

7. Getting more time off to spend with loved ones, friends, or participating in social or recreational activities may be quite satisfying for many people. This would also provide your employees a chance to recharge and feel like their efforts have been recognised.