Money isn’t everything. To some, such a statement may seem ridiculous. However, to alot, it rings completely true. Naturally, individuals seeking employment are concerned about how much they will be earning from the jobs they land. But, as we’ve pointed in numerous blogs of past, it will take a lot more than a handsome salary to keep a talented worker on your team.
In many cases, monetary bonuses aren’t possible. So if a raise is out of the question, how can you ensure that your employees are kept happy? Believe it or not, most people prefer the benefits and perks that come along with their jobs. In addition, employees place great value on the satisfaction they get from the jobs they perform. Recognizing the efforts of your employees goes a long way in keeping them in high spirits.
Offer flexible schedules where possible.
If you want to recognize jobs well done without promising bumps in pay, look into offering alternative work schedules. In today’s fast-paced world, maintaining a positive work/life balance is hugely important. Are there tasks your employees can complete from home? If so, allowing them to do so will significantly increase their job satisfaction. As you can imagine, this is especially true for parents of young children.
“If your sales team hits a monthly goal with a few days to spare, let them go home early the last few days,” suggests Jayson DeMers on Inc.com, “If your marketing team finishes work on a big campaign with no hiccups, let them come in late for a half day later in the week. You can also let your most valuable employees work from home occasionally, or offer other types of flexible scheduling.”
Publicly acknowledge jobs well done.
Have morning meetings and be sure to give your highest-performing employees shout outs! The simple display of gratitude is often enough to keep smiles on the faces of those acknowledged all day long. You may also wish to offer such rewards as gift cards to restaurants to employees who are achieving success – but your sincere words of praise and appreciation will last longer than any filled belly.
“One of the greatest things about recognition is that it costs nothing, is not difficult to do (for most people) and most leaders could do it more often,” writes Joseph Folkman on Forbes.com.
Make work a fun place to be.
You’d be surprised to know how impactful a ping-pong table can be. If you give your employees opportunities to relieve stress, unwind and catch up with co-workers, they will most often put a lot more effort into their actual work. This is because no one likes to be stressed out. However, far too many employers see their workplaces as strictly task-completion facilities. “All work and no play makes Jack a dull boy” reads the age-old proverb made popular by the film, The Shining.
“If your company earns a specific amount of revenue for the year, you can put a pool table in the break room,” DeMers proposes, “If you increase your total site traffic by 25 percent over the course of six months, you can offer free snacks on a daily basis. These amenities will likely cost less than distributing raises on an individual basis, and they’ll do their job of making your employees feel rewarded and satisfied with their work.”
For more expert advice on how to recognize employees without increasing salary, contact Hire Value Inc. today!