For any employee of a small business, acknowledgement for a job well done goes a long way while paying returns that tolerate in both tangible and intangible ways. Feeling a personal sense of accomplishment and belonging fosters job satisfaction, increased output, and loyalty – traits and assets that are priceless to any small business.
But employers frequently misunderstand the nature 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 creating 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 precious 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 rendered. Those kinds of “gifts” are occasionally 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 really valued and appreciated, acknowledge the work they do and recognize them in a personal, demonstrative way that makes them feel recognized and significant. Maybe you can do it best with cash, however couple the cash gift with a original and personal thank-you to guarantee success.
If you offer recognition in front of peers and customers it means that the beneficiary is a team player worthy of an outstanding reward, and it also serves as an incentive to others while making company goodwill throughout the community.