Most businesses recognize that rewarding employees is a crucial part of building a positive work environment. Employee reward programs increase motivation, improve production, and decrease turn-over. Simply put, reward programs are an investment that pays handsome dividends. But even knowing this, it can sometimes be difficult to free up the money to fund a reward program. Luckily, rewards don't have to be expensive. There are many cheap and even free things you do that substantially improve employee moral:
5 Ways To Reward Your Employees Without Breaking The Bank:
1. Nap Time
Sleep deprivation is one of the leading causes of workplace error, not to mention stress and lethargy. Consider setting up a nap-time breakroom where employees can catch an hour's shuteye over lunch, or during a long afternoon when they need to recharge. A cool, dark room with a few blankets and pillows won't cost much money, but can significantly increase your employee's health and focus.
2. Single Vacation Days
You may not be able to afford to give your employees an extra week or two weeks' vacation, but a single day off can be huge bonus when it comes unexpectedly. Try rewarding your top producers with a random Wednesday or Friday to relax, recharge, or maybe do something fun. When Mark Faust, author of Growth or Bust: Proven Turnaround Strategies to Grow Your Business
rewards his employees with a day off, he always includes event tickets or a golf course pass:
Giving a vacation day is one thing, but a vacation day that includes the fee for the pay lake or greens fee is another. They are being paid to fish or golf, and they have to do it—they aren’t stuck at home with a ‘honey do’ list or just a boring day off.