Businesses would crumble faster than the Roman Empire if it wasn’t for the hard work of employees. To make them feel valued and boost productivity even further, businesses need to put a reward system in place that goes further than a virtual pat on the back. There are plenty of simple ways to show appreciation for hard work, and we’ve gathered six examples below.
Restricted Spending Cards
The cost of living is rising, so provide prepaid cash cards to employees as a way of saying thank you, and to make their lives feel that little easier. However, to avoid them splashing additional cash on luxury items, you can gift restricted spend cards. These are a type of payment card you can lock to certain product categories or stores. For example, you can make sure the card can only be spent on groceries.
Company Retreats
Some people are more productive when they have something to look forward to. Therefore, you can take hard-working employees on a company retreat. When you announce the reward, attach certain KPIs that need to be met to gain admission, and just watch your workforce’s speed and efficiency rise.
To make a company retreat truly effective, it’s essential to handle the details so everyone can focus on team bonding rather than logistics. This includes selecting the perfect location and managing travel arrangements to ensure a smooth experience. For instance, businesses looking to organize retreats in picturesque destinations might explore specialized services that streamline the process from start to finish. One great option is company retreats portugal, which can be expertly planned through specialised services that offer full coordination, creating unforgettable getaways focused on team bonding and seamless execution.
Office Party
If your company is hitting large milestones, give something back by throwing an office party. There are countless ways to host a party, but we suggest hiring a venue such as a Hyde Park Cincinnati restaurant. During your party, you can take a moment to host an office awards ceremony with serious and bogus categories.
When planning an office celebration, the venue you pick can make or break the evening — especially for end-of-year festivities. If your team is in Australia or planning a Melbourne-based event, it helps to compare spaces that offer flexible layouts, in-house AV and easy transport links; exploring dedicated lists of Christmas party venues Melbourne can save time and uncover options across the CBD, Southbank, South Yarra and Collingwood.
Many venues also accommodate last-minute bookings and can tailor catering and decor to fit a budget or theme. Choosing a centrally located venue often improves attendance and simplifies logistics for group arrivals.
Bonuses
Enjoying work is great and all, but the paycheck makes it worthwhile. If you’re looking to boost productivity and reward hard work, consider setting up a bonus structure. Split any bonuses up into quarters and have well-defined KPIs that need hitting before bonuses are released. This way, those that work hard will benefit and the slackers will be left out.
Time Off
A work-life balance is a key to productivity and positive mental health. Reward your hard-working employees by gifting them some much-needed time off – on top of regular leave. For the least impact on your business, offer time off around Christmas and New Year, when much of the business world comes to a standstill anyway. Your employees will be grateful for the time to spend with their families, and you’ll benefit from boosted productivity.
Event Tickets
Whether it’s music events, comedy shows, or relaxed conventions, gifting employees with event tickets is a great way to show gratitude. In this economy, with dynamic pricing structures pushing the cost of popular events through the roof, your employees will thank you with more hard work and dedication. However, you should find a way to make this reward personal because not everyone will thank you for those expensive box seats to the opera.
Hardworking employees make successful businesses. However, productivity and motivation will soon dip when employees feel underappreciated. Putting together a series of performance-dependent perks, like those mentioned above, will keep up the momentum, show that you care about your employees, and will improve your bottom line.
