Studies show that companies that ensure work satisfaction tend to retain their employees better than the ones solely relying on lucrative salaries. Employee retention is beneficial for an organization financially too. It takes a lot of investment financially and intellectually to train a new employee. However, if they do not stay for long, the whole cycle needs to be repeated; the training and the capital investment go on to drain out the organization’s resources.
So, if you too are looking at solutions to keep your employees fulfilled with work satisfaction, then, you must consider modern rewarding techniques. To help you out with that, we’ve made this list of small yet powerful ideas that could help you reward your employees. Read on:
1) Thoughtful gifts:
Dear birthday gifts and Christmas gifts, move over! This is 2019, an age where recruiters battle it out to be the most effective and creative. In this day and age, it is essential that you ditch the same old coffee mugs and photo frames, but pop out some new and creative gift ideas for your employees. Help them have utilities they need and add value to your life. You could always make use of rewarding-solution makers such as Global Reward Solutions, to avail gift discount codes valid in over 85 countries.
2) Better yet, gift an experience:
Science indicates that a human mind naturally derives more contentment from experience than it does from materialistic possessions. You could gift your best employees a one-week trip to an exotic place they have always dreamt of being at or you could send them on a spa retreat. You would know which one of them craves for what, and you could send different rewards to reach out to each of their inspirations. Just remember: experiences always fill our souls better!
3) Trophies, medals, and more:
Nothing quite denotes victory like a trophy! For your best performers of the month, you could have trophies and medals in place. Not only would it be a souvenir of their accomplishments at work, but it would also help them feel recognised.
4) Letters of appreciation:
In a world of social media, a little old-school method could still be used to charm your employees. The founder of the organization should take some time out to pen down heartfelt letters to their best talents, and express their gratitude in hand-written notes. Yes, they could also send out a mail and CC the rest of the organization for everyone to appreciate the performers and the gesture. However, in addition to that, a hand-written letter would feel a lot more personal and inspire the employee deeply.
5) Nap breaks:
This is a new trend that all cool organizations are hopping on. Most employees come to work with tired eyes and a fatigued head. They complain of their sleep-less routine. However, you could use it to your advantage and cut out a portion of your office to become the “nap room”. Employees who finish their work before time could rest in this room and nap off peacefully. Isn’t that a smart motivator now!
These are just a few creative ideas you could get your hands on, and surprise your employees with the newly found “cool” quotient at their workplace. You could set various criteria to decide how each milestone is to be rewarded. Furthermore, you should encourage inputs and feedback on your current strategy from your employees. After all, the reward strategies are aimed at improving their over-all perception of your leadership.
It is also essential that you conduct fair and timely annual appraisals to motivate your crew and float the ship of your business. Happy Captain-ing!