Your team work hard for the business, so why not show your appreciation and reward staff? It is important that your team feel valued and looked after, particularly as staff wellbeing is important for retention. To help give back to your staff in the current economical climate, here are several low-cost solutions you can implement in your business.
Implement an employee reward program
An employee rewards program can be implemented in one of two ways – either it is structured based on hitting targets, or it is more spontaneous in its recognition. Should you implement the former, this could be something as simple as earning higher commission for reaching sales targets. Staff targets are important for personal development, and a structured, visible rewards program may help them reach both their targets and those of the business.
An unstructured reward program can come across more genuine however, as it can reward staff based on their behaviour or actions without feeling forced. Sage Employee Benefits is a system that can give back to employees by enabling staff to nominate one another for a good job. Sage can also help set up financial rewards, personalised e-cards and savings for retailers, providing methods of recognition and reward. Either way, think about what will work best for your business before implementing the program.
Recognise staff through a newsletter
As a bustling and prestigious business, you will likely have plenty to update your team on using an internal newsletter. These newsletters, preferably digital for sustainability, ensure your team are kept up to date in an enjoyable and professional manner. Therefore, you could use a section of your newsletter to recognise your team members. Through this communication, you help reward staff by making them feel noticed for their hard work at no additional cost.
Reward staff with business perks
Gift cards (or gift vouchers) are a wonderful way to reward staff, but you can also reward staff using more business-based perks. For example, you may wish to reward staff with a friends and family discount, or reserving a more premium parking spot for them, such as by the business entrance. Alternatively, perhaps you would like to provide a day’s worth of annual leave for that staff member? There are plenty of business perks you could provide that are low-cost like this, so it is worth digging into what you can offer from a business perspective.
Thank staff on social media
Social media is a powerful tool to share information to those interested in your business, with many interacting with content that shows the people behind the business. For this reason, it makes absolute sense to showcase your team’s efforts on social media, tagging their profiles to draw attention. You can then show your appreciation in a more personal way, as shouting your praises on a more public platform will make staff feel valued.
Reward staff as a team
Sometimes, it will be a team effort rather than an specific individual. It’s therefore worth considering group rewards, such as offering treats in the staff room or equivalent area, or flowers for the whole team. A night or meal out is a nice gesture, but this expensive gesture can be turned into a more cost-effective alternative and just as appreciated by bringing the treats into the business for staff downtime. That way, you are more in control of what is spent.
Core by Premier Software® can help set up targets for commission and sales, as well as offer gift vouchers and more to help reward your team. To find out how Core can help your business, click the button below.