For any employee of a small business, acknowledgement for a job well done goes an extended way while paying returns that endure in both touchable and intangible ways. Feeling a personal sense of achievement and belonging fosters job satisfaction, increased productivity, and loyalty – traits and assets that are precious to any small business.
But employers frequently misunderstand the character of employee bonuses or lack a keen understanding of which types of rewards and incentives are most effective and appreciated. Here are some tips for making employee bonuses that will keep on giving – both to employees as well as to employers – for the overall benefit of the company:
Cash rewards like year-end bonuses are valuable and significant. However they are also a bit predictable and anticipated, just as your cab driver or restaurant server expects a reasonable tip for services offered. Those kinds of “gifts” are at times already built into the economic equation. If so, they must not be viewed as special acknowledgement for work above and beyond the call of duty.
To really make an employee feel truly valued and appreciated, acknowledge the work they do and identify them in a personal, demonstrative way that makes them feel recognized and significant. Perhaps you can do it best with cash, however couple the cash gift with a creative and personal thank-you to guarantee success.